TITLE
Consider a memorandum/resolution approving the investment report for the quarter ended December 31, 2016.
SUMMARY
AGENDA ITEM
Quarterly Investment Report, December 31, 2016
ORIGINATING DEPARTMENT
Finance
BACKGROUND INFORMATION
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 shall include a detailed description of the investment position of the City, summarize the investment activity in each pooled fund group, state the total rate of return on the investment portfolio, and contain information regarding the market value and book values of each separately invested asset. The report also states the compliance of the investment portfolio of the City as it relates to the investment strategy expressed in the City's policy and the relevant provisions of the Public Funds Investment Act.
DISCUSSION/CONCLUSION
The attached investment report summarizes all investment activity for the quarter that ended December 31, 2016. The highlights of the report are as follows:
|
|
Jul - Sep 2016 |
Oct - Dec 2016 |
Change |
|
Interest Income |
$101,069 |
$118,903 |
17.65% |
|
Investment Balance |
$71,805,732 |
$97,704,490 |
36.07% |
|
Average Yield |
0.57% |
0.66% |
0.09% |
FISCAL IMPACT
Our investment portfolio directly impacts our interest earnings and aligns with current budgeted amounts.
RECOMMENDATION
Staff recommends that the City Council approve the attached investment report for the quarter that ended December 31, 2016.