File #: 2018-1892    Name:
Type: Presentation Status: Filed
File created: 2/23/2018 In control: Finance and Budget Committee
On agenda: 3/5/2018 Final action: 3/5/2018
Title: Investment Report for the Quarter Ending December 31, 2017 (F&BC 3-5-18)
Attachments: 1. investment report Dec 2017.pdf, 2. Investment portfolio Dec 2017.pdf

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:

Start: ___

Finish: ___

 

Other Information/Unique Characteristics:

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Presenter

Presenter:  Sherri Staub, Cash Management Officer

 

Recommendation

Recommendation: None

 

Committee Recommendation

Committee Recommendation:  Presentation only.