AGENDA CAPTION:
Title
Receive a Staff presentation of the Quarterly Investment and Financial Reports, and provide direction to Staff.
Body
Meeting date: May 16, 2017
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 report covers the second quarter of the fiscal year 2016-2017 reflecting investment activity and balances as of March 31, 2017.
The City's total portfolio summary as of March 31, 2017 reflects a total market value of $189,010,722 made up of funds from:
Consolidated Cash $ 49,799,758
Consolidated Cash Reserves $ 10,802,433
Enterprise Fund $ 115,078,970
Enterprise Fund Reserves $ 13,329,561
These funds are invested in various investment types including:
Bank Deposits $ 25,285,851
Money Market Mutual Funds $ 1,456,371
Certificates of Deposit $ 7,895,000
Local Government Pools $ 66,007,765
Municipal Coupon Securities $ 13,807,176
Federal Agencies $ 74,558,559
The City's financial performance through March 31, 2017 is detailed 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 with the related variances.
The Investment Report and Financial Summary Report for quarter ended March 31, 2017 were reviewed by the Finance and Audit Committee on May 16, 2017.