Consent 1.J.
Regular City Council Meeting
- Meeting Date:
- 03/28/2011
- 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 Division shall submit semi-annually an investment report describing investments in terms of type and interest rate. On December 31, 2010, the City had the following amounts invested:
| Montanan Short Term Investment Pool | $ 6,253 |
| US Government and Agency | $ 66,770,000 |
| Certificates of Deposit | $ 14,062,976 |
| Repurchase | $ 44,375,504 |
| Total Investments | $125,214,733 |
The summary that is attached does not include the US Bank repurchase account.
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, 2010, the average yield to maturity was .86%.
RECOMMENDATION
It is recommended that the City Council approve the investment report.