Title
Investment Report for the Quarter Ending December 31, 2017 (F&BC 3-5-18)
Body
Issue/Request:
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Key Issues:
This report is prepared to provide a summary of the status of the investment portfolio and noting transactions over the previous quarter. The report lists new purchases as well as maturities.
At December 31 the largest percentage of the portfolio was invested in US Treasuries (68%); followed by cash (19%) as tax collection is heavy the last days of December and the collections have not yet been remitted to Jackson County for distribution; followed by CD's and municipal obligations. Cash balances are invested in an overnight repurchase agreement and are collateralized.
Proposed City Council Motion:
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Background:
A "Mark to Market" adjustment is required each quarter end to recognize any change in the value of the portfolio in the event that securities would need to be liquidated. Fair values are determined by our custodial bank.
At December 31 the market adjustment across all funds was an unrealized loss of $918,230.71.
Impact/Analysis:
At December 31, 2017 the average yield on the portfolio was 1.1836%.
Timeline:
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Other Information/Unique Characteristics:
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Presenter
Presenter: Sherri Staub, Cash Management Officer
Recommendation
Recommendation: None
Committee Recommendation
Committee Recommendation: Presentation only.