Consent 1.I.
Regular City Council Meeting
- Meeting Date:
- 09/12/2011
- TITLE
- Semi Annual Investment Report
- PRESENTED BY:
- Patrick M Weber
- Department:
- City Hall Administration
Presentation:
PROBLEM/ISSUE STATEMENT
The City of Billings Investment Policy states the Finance Division shall submit an investment report semi-annually, describing investments in terms of type and interest rate. On June 30, 2011, the City had the following amounts invested:
| Montanan Short Term Investment Pool | $ 6,262 |
| US Government and Agency | $ 65,200,000 |
| Certificates of Deposit | $ 12,562,976 |
| Total Investments | $ 77,769,238 |
ALTERNATIVES ANALYZED
The Council may:
- Approve the semi annual investment report; or
- Not approve the semi annual investment report.
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 June 30,2011 the average yield to maturity was .85%.
RECOMMENDATION
Staff recommends that the City Council approve the investment report.
APPROVED BY CITY ADMINISTRATOR
Attachments
No file(s) attached.