Presenter/Contact
Presenter
Martie Simpson, Finance Director
Contact Info
(830) 221-4385 - msimpson@nbtexas.org
Subject Header
SUBJECT:
Title
Discuss and consider approval of the City of New Braunfels FY 2016-17 first quarter investment report.
Body
BACKGROUND / RATIONALE:
State of Texas statutes require quarterly investment reports to be presented to the governing body of a municipality. In addition, the Investment Policy adopted annually by the City Council requires quarterly reporting to the City Council. Attached for Council consideration is the FY 2016-17 first quarter investment report to meet these statutory requirements. As of December 31, 2016, the City had $103,131,611 (market value) invested in different investment instruments including cash as shown below. The portfolio decreased by $1,061,399 as a result of normal budget spending.
Amount Invested
(Dollars in millions)
Investment Type:
Federal Agency Coupon Securities $15
Money Market/Cash $30
Pools $58
Weighted Average Maturity of Portfolio 17 days
Weighted Average Yield for Portfolio .35%
Earned Income QTR $81,862
Earned Income YTD $81,862
For this quarter, the weighted average yield on the City’s investments is .35 percent, which is a slight increase in comparison to the fourth quarter of FY 2015-16 earnings of .30 percent. The current market and economic conditions have seen positive movement that has affected slight interest rate increases. The City earned $81,862 for the first quarter of the year.
The weighted average maturity of the City’s portfolio decreased in comparison to the fourth quarter of FY 2015-16 as a result of long term maturities. Every effort continues to be made to maintain the City’s liquidity for payment of expenditures while maximizing interest earnings in this continued very low interest rate market.
ADDRESSES A NEED/ISSUE IN A CITY PLAN OR COUNCIL PRIORITY:
|
X |
Yes |
City Plan/ Council Priority: |
Strategic Priorities: 8 - Maintain fiscal stability of City operations |
FISCAL IMPACT:
N/A
Recommendation
COMMITTEE RECOMMENDATION:
N/A
STAFF RECOMMENDATION:
Staff recommends approval of the attached investment report.