Consent 1.F.
Regular City Council Meeting
- Meeting Date:
- 09/27/2010
- 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 and interest rate. On June 30, 2010, the City had the following amounts invested:
| Montanan Short Term Investment Pool | $ 6,242 |
| US Government and Agency | $ 57,770,000 |
| Certificates of Deposit | $ 14,030,884 |
| Repurchase | $ 44,977,198 |
| Total Investments | $116,784,324 |
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 30,2010, the average yield to maturity was 1.167%.
RECOMMENDATION
It is recommended that the City Council approve the investment report.