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File #: RS-24-092    Version: 1 Name: Quarterly Investment Report
Type: Resolution Status: Passed
File created: 5/13/2024 In control: City Council
On agenda: 6/11/2024 Final action: 6/11/2024
Title: Consider a memorandum/resolution approving the investment report for the quarter ended March 31, 2024.
Attachments: 1. Quarterly Investment Report, 2. Presentation

Title

 

Consider a memorandum/resolution approving the investment report for the quarter ended March 31, 2024.

 

Body

 

DATE:                     June 4, 2024                                          

 

TO:                     Kent Cagle, City Manager                     

 

FROM:                     Judith Tangalin, Executive Director of Finance                     

 

SUBJECT:                     Quarterly Investment Report                     

 

BACKGROUND AND FINDINGS:

 

The attached investment reports summarize all investment activity for the quarter ended March 31, 2024. The highlights of the report are as follows:

 

Quarter ended March 31, 2024:

 

Oct. - Dec. 2023

Jan. - Mar. 2024

Change

Interest Income

$2,660,623

$3,101,527

16.57%

Investment Balance

$253,451,719

$277,734,546

9.58%

Average Yield

4.35%

4.44%

2.07%

 

 

THE ALTERNATIVES CONSIDERED:

 

N/A

 

Which alternative is recommended? Why?

 

N/A

 

CONFORMITY TO CITY POLICY:

 

The City of Killeen’s investment policy requires that a quarterly report of investment activity be submitted to the City Council within a reasonable time after the end of each quarter.  The quarterly report includes a detailed description of the investment position of the City, summarizes the investment activity in each pooled fund group, states the total rate of return on the investment portfolio, and contains information regarding the market value and book value of each separately invested asset.

 

 

FINANCIAL IMPACT:

 

What is the amount of the revenue/expenditure in the current fiscal year? For future years?

 

N/A

 

Is this a one-time or recurring revenue/expenditure?

 

N/A

 

Is this revenue/expenditure budgeted?

 

N/A

 

If not, where will the money come from?

 

N/A

 

Is there a sufficient amount in the budgeted line-item for this revenue/expenditure?

 

N/A

 

RECOMMENDATION:

 

City Council approve the attached investment reports for the quarter that ended March 31, 2024.

 

DEPARTMENTAL CLEARANCES:

 

Legal

 

ATTACHED SUPPORTING DOCUMENTS:

 

Quarterly Investment Report

Presentation