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File #: 22-0868    Version: Name: 6/6/22 Investment Portfolio Report - 1st Quarter 2022
Type: Report or Communication Status: Filed
File created: 6/6/2022 In control: City Council
On agenda: 6/6/2022 Final action: 6/6/2022
Enactment date: Enactment #:
Title: Investment Portfolio Report - 1st Quarter 2022
Attachments: 1. Securities Held as of 03.31.22.pdf


Investment Portfolio Report - 1st Quarter 2022


Attached for your information is the City’s investment portfolio report for the first quarter 2022.  At March 31, 2022, the weighted average yield for the portfolio was 0.80%.  Our benchmark is the 12-month trailing average of the 2-year Treasury Note, which had a yield of 0.59% as of March 31, 2022.  The weighted average effective maturity at quarter-end was 483 days.


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


Institution                                                                CD Amount                                          Maturity Date                                                               Yield

Bank of Ann Arbor                                          $250,000.00                                          July 25, 2022                                                               0.10%

Flagstar Bank                                          $268,164.82                                          April 5, 2022                                                               0.35%

Level One Bank                                          $276,435.57                                          November 15, 2022                                          0.20%


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


Institution                                                               Balance at Quarter End                     Maturity Date                                          Yield

Michigan Cooperative                     $16,508,643.92                                          NA                                                               0.45%

Liquid Assets Securities



GASB requires under Statement 31 that all investments be recorded at fair value versus amortized costs.  At quarter end, the amortized cost value of the portfolio was $302,945,360.03.  If investments were recorded using the fair value method, the value of the portfolio would be $297,907,959.05.  Recording investments using the fair value, the portfolio experienced an unrealized loss of $5,037,400.93 on March 31, 2022.


Prepared by:  David McNulty, Deputy Treasurer