AGENDA CAPTION:
Title
Receive a Staff presentation of the Quarterly Investment and Financial Reports, and provide direction to Staff.
Body
Meeting date: September 16, 2014
Department: Finance-Heather Hurlbert, Finance Director
Funds Required:
Account Number:
Funds Available:
Account Name:
CITY COUNCIL GOAL:
BACKGROUND:
The Texas Public Fund Investment Act requires the City's Quarterly Investment Report to be received by City Council. The reports cover the third quarter of the fiscal year 2013-2014 reflecting investment activity and balances as of June 30, 2014.
The City's total portfolio summary as of June 30, 2014 reflects a total book value of $149,306,364 made up of funds from:
Consolidated Cash $43,893,770
Consolidated Cash Reserves $12,661,533
Enterprise Fund $80,697,761
Enterprise Fund Reserves $12,053,300
These funds are invested in various investment types including:
Bank Deposits $16,316,544
Local Government Pools $34,630,911
Money Market Mutual Funds $22,411,039
U.S. Treasuries $50,950,104
Federal Agencies $10,000,000
Commercial Paper $14,997,766
The benchmark yield used is the 6-month T-bill which has a yield of 0.05% for this period. The City's yields are 0.17% for the Consolidated Cash, 0.12% for the Enterprise Fund, 0.22% for the Consolidated Cash-Reserve Fund, and 0.22% for the Enterprise-Reserve Fund.
The City's financial performance through June 30, 2014 is reflected in the enclosed Financial Summary Report. The report includes revenues and expenditures for the City's major funds. The reported funds are as follows: General Fund, Debt Service Fund, Hotel Tax Fund, Water Wastewater Fund, Drainage Fund, Electric Fund and Airport Fund. Included on the report are trending analysis for both year-to-date and month-to-date w...
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