HomeMy WebLinkAboutAudit Committee Agenda Packet - January 20, 2015City 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, January 20, 2015
4:45 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
2. REGULAR AGENDA ITEMS
2a Meet with representative(s) from the City’s audit firm, Pattillo,
Brown & Hill, L.L.P., to discuss the draft of the Fiscal Year September
30, 2014 audit and SAS 114 Letter
2b Presentation of the Quarterly Investment Report for the quarter
ending December 31, 2014
3. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday,
January 16, 2015 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 01/20/2015 Number
Type Regular Agenda Items
Department City Manager
Title
Meet with representative(s) from the City’s audit firm, Pattillo, Brown & Hill, L.L.P., to
discuss the draft of the Fiscal Year September 30, 2014 audit and SAS 114 Letter
Explanation
John Manning, Partner with Pattillo, Brown & Hill, L.L.P., will meet with the Audit
Committee to discuss the draft of the Fiscal Year September 30, 2014 audit and SAS
114 letter.
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 01/20/2015 Number
Type Regular Agenda Items
Department City Manager
Title
Presentation of the Quarterly Investment Report for the quarter ending December 31,
2014
Explanation
During the period of October 1, 2014 through December 31, 2014, the City of
Colleyville had an average of $51,631,948 invested on a daily basis, which earned
$31,515, with an average yield of 0.24%. The average yield on investments for this
quarter is 0.03% higher than the prior quarter's average of 0.21%. As of December
31, 2014, the City had $51,773,489 invested in the LOGIC Investment Pool, CDARS
Certificates of Deposit, and various debt instruments in the following percentages:
Logic 46.03% FFCB Notes 25.21%
FHLB Notes 17.48% CDARS CD’s 8.77%
Treasury Note 2.51%
These percentages are within the guidelines for portfolio diversification in the City's
investment policy. The market value of the City's investments on December 31, 2014
was $23,386,078 as compared to a purchase price of $23,436,396 (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 $500,352 and a purchase price of $500,395. Additionally, $998,267 was
invested in the Corporation's name in the LOGIC Investment Pool. These funds earned
interest of $478 for the quarter.
Attachments
1.Quartertly Investment Report for quarter ending December 31, 2014