Consent 1.J.
Regular City Council Meeting
- Meeting Date:
- 03/28/2016
- TITLE
- Investment Report
- PRESENTED BY:
- Patrick M. Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
On January 31, 2016, the City had the following amounts invested:
| Montana Short Term Investment Pool | $ 35,600,062 |
| US Government and Agency | $113,075,000 |
| Certificates of Deposit | $ 10,590,224 |
| Total Investments | $ 159,265,286 |
ALTERNATIVES ANALYZED
There are no viable alternatives to approving the report because all investments 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 January 31, 2016, the average yield to maturity was .75%.
RECOMMENDATION
It is recommended that the City Council approve the investment report.