AGENDA CAPTION:
Title
Receive a Staff presentation of the Quarterly Investment and Financial Reports, and provide direction to City Manager.
Body
Meeting date: April 2, 2019
Department: Finance-Heather Hurlbert, Finance Director
Amount & Source of Funding
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Fiscal Note:
Prior Council Action: Received by the Finance and Audit Committee on March 28, 2019
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
☐ Economic Development - Choose an item.
☐ Environment & Resource Protection - Choose an item.
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☐ Neighborhoods & Housing - Choose an item.
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☐ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
The Texas Public Fund Investment Act requires the City's Quarterly Investment Report be received by City Council. The reports cover the 4rd quarter of fiscal year 2017-2018 and 1st quarter of fiscal year 2018-2019 reflecting investment activity and balances as of September 30, 2018 and December 31, 2018 respectively.
The City's total portfolio summary as of December 31, 2018 reflects a total market value of $250,299,949 made up of funds from:
Pooled Cash $ 72,189,870
Pooled Cash Reserves $ 13,443,609
Enterprise Cash $147,140,194
Enterprise Cash Reserves $ 17,526,276
These funds are invested in various investment types including:
Bank Deposits $ 41,557,023
Money Market Mutual Funds $ 5,948,953
Local Government Pools $ 81,686,390
Municipal Coupon Securities $ 40,189,834
Corporate Commercial Paper $ 10,933,619
Federal Agencies $ 69,984,129
The City's financial performance through December 31, 2018 is detailed in the enclosed Financial Summary Report. The report includes revenues and expenditures for the City's major funds. The reported funds include the General Fund, Hotel Tax Fund, Water Wastewater Fund, Storm Water Management Fund, Electric Fund, Resource Recovery Fund and Airport Fund. Included on the report are trending analysis for both year-to-date and quarter-to-date with the related variances.
The Investment Report for quarters ended September 30, 2018 and December 31, 2018 and the Financial Summary Report for quarter ended December 31, 2018 were reviewed by the Finance and Audit Committee on March 28, 2019.
Council Committee, Board/Commission Action:
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Alternatives:
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Recommendation:
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