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File #: 20-1648    Version: 1 Name: Investment Portfolio Report - 3rd Quarter 2020
Type: Report or Communication Status: Filed
File created: 12/7/2020 In control: City Council
On agenda: 12/7/2020 Final action: 12/7/2020
Enactment date: Enactment #:
Title: Investment Portfolio Report - 3rd Quarter 2020
Attachments: 1. 09-30-2020 City of Ann Arbor.pdf


Investment Portfolio Report - 3rd Quarter 2020


Attached for your information is the City’s investment portfolio report for the third quarter 2020. At September 30, the weighted average yield for the portfolio for the quarter was 1.39 %. Our benchmark is the 12-month trailing rate of the 2-year Treasury Note, which earned 0.76 as of June 30. The weighted average effective maturity at quarter end was 574 days.


In addition to the securities disclosed in the attached portfolio report, as of September 30, the City owned Certificates of Deposit as described below:


Institution                                 Certificate Amount                             Maturity Date                                          Yield   

Bank of Ann Arbor                             $257,701.65                             January 26, 2021                         0.304

Ann Arbor State Bank                         $259,556.79                             May 19, 2021                        2.10

Flagstar Bank                                                  $258,548.26                          October 5, 2020       2.43


The City also invests in a short-term liquidity investment as described below:


Institution                                                      Balance at Quarter End    Maturity Date  Yield   

Michigan Cooperative                         $9,882,005.89                                          NA                                  0.11%

Liquid Assets Securities



The Governmental Accounting Standards Board requires under Statement 31 that all investments be recorded at fair value versus amortized cost. At quarter end, the amortized cost value of the portfolio was $313,000,547.10. If investments were recorded using the fair value method, the value of the portfolio would be $307,378.292.13. Recording investments at fair market value, the portfolio experienced an unrealized gain of $5,622,254.97.


Prepared by:                     Michael J. Pettigrew, City Treasurer

Reviewed by:                      Matthew V. Horning, Interim CFO & Financial Services Area Administrator

Approved by:                       Tom Crawford, City Administrator