Consent 1.F.
Regular City Council Meeting
- Meeting Date:
- 03/12/2012
- TITLE
- Semi Annual Investment Report
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
Information
PROBLEM/ISSUE STATEMENT
The City of Billings Investment Policy states the Finance Department shall submit an investment report semi-annually, describing investments in terms of type and interest rate. On December 31, 2011, the City had the following amounts invested:
| Montanan Short Term Investment Pool | $ 6,270 |
| US Government Agency Securities | $ 68,200,000 |
| Certificates of Deposit | $ 12,571,804 |
| Total Investments | $ 80,778,074 |
ALTERNATIVES ANALYZED
There are no viable alternatives to approving the report because all earnings occurred in the past.
FINANCIAL IMPACT
The investment portfolio for the City is designed to maintain the safety of investments while obtaining a market average rate of return throughout budgetary and economic cycles. As of December 31,2011 the average yield to maturity was .717%.
RECOMMENDATION
Staff recommends that the City Council approve the investment report.