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File #: 21-0350    Version: 1 Name: 3/15/21 Investment Portfolio Report - 4th Quarter 2020
Type: Report or Communication Status: Filed
File created: 3/15/2021 In control: City Council
On agenda: 3/15/2021 Final action: 3/15/2021
Enactment date: Enactment #:
Title: Investment Portfolio Report - 4th Quarter 2020
Attachments: 1. 12-31-2020 City of Ann Arbor.pdf


Investment Portfolio Report - 4th Quarter 2020


Attached for your information is the City’s investment portfolio report for the fourth quarter 2020. At December 31, the weighted average yield for the portfolio for the quarter was 1.29 %. Our benchmark is the 12-month trailing rate of the 2-year Treasury Note, which earned 0.39 as of June 30. The weighted average effective maturity at quarter end was 565 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                             $258,281.48                             October 25, 2021                         0.40

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

Flagstar Bank                                                  $268,164.82                                          April 5, 2022                                          0.35


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


Institution                                                      Balance at Quarter End    Maturity Date  Yield   

Michigan Cooperative                         $6,228,585.08                                          NA                                  0.0787%

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 $297,224,478.74. If investments were recorded using the fair value method, the value of the portfolio would be $302,013,427.95. Recording investments at fair market value, the portfolio experienced an unrealized gain of $4,788,949.21.


Prepared by:                     Michael J. Pettigrew, City Treasurer

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

Approved by:                       Tom Crawford, City Administrator