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File #: TMP-2386    Name:
Type: Report Status: Filed
File created: 8/11/2022 In control: Finance and Budget Committee
On agenda: 9/7/2022 Final action: 9/7/2022
Title: Investment Portfolio Report for the quarter ended June 30, 2022
Attachments: 1. Investment Report - 6-30-2022, 2. Investment Policy, 3. Approved List of Financial Institutions


Investment Portfolio Report for the quarter ended June 30, 2022






Key Issues:

This report serves as a status report of the Investment Portfolio and notes all purchases and maturities over the previous quarter.


As of June 30, 2022, the portfolio was approximately sixty percent US Treasuries, thirty-three percent Government Agencies and seven percent CD's, MOSIP Debt Service Funds, and Cash.


Cash balances are collateralized to protect City funds.


A "Mark to Market" adjustment is required at each quarter end to recognize any change in the market value of the portfolio in the event that securities would need to be liquidated.  Fair values are determined by our custodial bank.



Our primary investment objectives in order of priority are 1) safety,  2) liquidity and  3) yield.


Securities are laddered over a period not to exceed 5 years.  When the yield spread between shorter term and longer term is minimal, staff does not extend to the longer-term maturities.  Due to the currently low interest rates, new purchases have been kept to under 3 years.


To protect City funds, the City's depository banking agreement requires the bank to pledge collateral equal to the City's funds in excess of FDIC coverage.  The City holds a letter of credit from US Bank.



John Merrigan, Assistant Director, Cash and Debt Management