HomeMy WebLinkAboutAudit Committee Agenda Packet-11/18/2014City of Colleyville Page 1
City of Colleyville
Audit Committee
Agenda
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Tuesday, November 18, 2014
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2. REGULAR AGENDA ITEMS
2a Meet with representatives from the City's audit firm Pattillo, Brown
and Hill, L.L.P. to discuss the interim progress of the Fiscal Year
ended September 30, 2014 audit
2b Presentation of the Quarterly Investment Report for quarter ending
September 30, 2014
3. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday,
November 14, 2014, by 5:00 p.m.
Terry Leake
Assistant City Manager and Chief Financial Officer
A quorum of the Colleyville City Council may be in attendance at this meeting.
Any matter on this agenda may, at the discretion of the governing body, be
opened for public comment and discussion.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise Executive Secretary at least 48 hours in advance
at 817.503.1111, and reasonable accommodations will be made to assist you.
City of Colleyville Page 1
City of Colleyville
Audit Committee
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 2a Agenda Date 11/18/2014 Number
Type Presentation and Discussion
Department Finance
Title
Meet with representatives from the City's audit firm Pattillo, Brown and Hill, L.L.P. to
discuss the interim progress of the Fiscal Year ended September 30, 2014 audit
Explanation
John Manning, Partner with Pattillo, Brown & Hill, L.L.P., will meet with the Audit
Committee to discuss the interim progress of the Fiscal Year September 30, 2014
audit.
Attachments
City of Colleyville Page 1
City of Colleyville
Audit Committee
Agenda Briefing
City Hall
100 Main Street
Colleyville, Texas 76034
www.colleyville.com
Agenda Number 2b Agenda Date 11/18/2014 Number
Type Regular Agenda Items
Department City Manager
Title
Presentation of the Quarterly Investment Report for quarter ending September 30,
2014
Explanation
During the period of July 1, 2014 through September 30, 2014, the City of Colleyville
had an average of $50,996,629 invested on a daily basis, which earned $27,494, with
an average yield of 0.21%. The average yield on investments for this quarter is .01%
higher than the prior quarter's average of 0.20%. As of September 30, 2014, the City
had $51,018,034 invested in the LOGIC Investment Pool, CDARS Certificates of
Deposit, and various debt instruments in the following percentages:
Logic 46.70% FFCB Notes 28.42%
FHLB Notes 13.43% CDARS CD’s 8.90%
Treasury Note 2.55%
These percentages are within the guidelines for portfolio diversification in the City's
investment policy. The market value of the City's investments on September 30, 2014
was $22,648,663 as compared to a purchase price of $22,679,123 (this excludes
LOGIC Investment Pool and CDARS Certificates of Deposit). The Colleyville Economic
Development Corporation currently holds a Treasury Note ($500,000) with a market
value of $500,703 and a purchase price of $500,395. Additionally, $998,038 was
invested in the Corporation's name in the LOGIC Investment Pool. These funds earned
interest of $477 for the quarter.
Attachments
1.Quarterly investment report for quarter ending September 30, 2014