Title
September 2024 Quarterly Investment Report
Memorandum
Attached for your information is the City’s quarterly investment portfolio report as of September 30, 2024. As of this date, the weighted average purchase yield for the portfolio holdings is 3.87%, up from 3.56% at the prior quarter-end, and the weighted average final maturity is approximately 2.31 years (843 days), compared to 2.10 years as of June 30.
The safe return of principal remains our primary investment priority. Currently, 63.51% of the portfolio is invested in U.S. Treasury Securities, with the remaining 36.49% invested in U.S. Instrumentality Securities.
The portfolio is strategically positioned to meet anticipated cash flow needs for the coming fiscal year. As of September 30, our Michigan CLASS investment account holds a total balance of $81,812,132, earning an average monthly yield of 5.23%
Staff
Prepared by: Michael J. Pettigrew, City Treasurer
Reviewed by: Kimberly Buselmeier, Interim Financial Services Area Administrator and CFO
Approved by: Milton Dohoney Jr., City Administrator