Consent 1.I.
Regular City Council Meeting
- Meeting Date:
- 03/08/2010
- 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 semi-annually, an investment report describing investments in terms of type, interest rate and maturity date.
On December 31, 2009, the City had the following amounts invested:
US Bank Municipal Investor $ 7,133,169
Montana Short Term Investment Pool 6,234
US Government and Agency 62,638,333
Certificates of Deposits 13,500,000
Repurchase 29,115,105
Total Investments $112,392,841
On December 31, 2009, the City had the following amounts invested:
US Bank Municipal Investor $ 7,133,169
Montana Short Term Investment Pool 6,234
US Government and Agency 62,638,333
Certificates of Deposits 13,500,000
Repurchase 29,115,105
Total Investments $112,392,841
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 December 31, 2009, the yield to maturity was 1.292%.
RECOMMENDATION
It is recommended that the City Council approve the investment report