Title
Fourth Quarter 2015 Investment Portfolio Report
Memorandum
Attached for your information is the City’s investment portfolio report for the fourth quarter 2015. At December 31, the portfolio year-to-date gross return on investments was 1.14%. The weighted average yield for the portfolio for the quarter was 1.15%, which exceeded our benchmark by 47 basis points. Our benchmark is the 12-month trailing rate of the 2-year Treasury Note, which earned 0.68% as of December 31. The weighted average effective maturity at quarter end was 733 days.
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 $229,106,365.09. If investments were recorded using the fair value method, the value of the portfolio would be 228,806,390.00. Recording investments at fair market value, the portfolio experienced an unrealized loss of $299,975.09.
Staff
Prepared and
Reviewed by: Matthew V. Horning, Treasurer and Interim Financial Services Administrator and CFO
Approved by: Tom Crawford, Interim City Administrator