HomeMy WebLinkAboutAudit Committee-Agenda Packets-08/03/2021City 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, August 3, 2021
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2.APPROVAL OF MINUTES
April 20, 2021
3.REGULAR AGENDA ITEMS
3a Discussion of the Fiscal Year September 30, 2021, audit which will
be conducted by the City's audit firm Weaver and Tidwell
3b Presentation of the third quarter FY21 investment report
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, July
30, 2021, by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of the Colleyville City Council and/or any other Colleyville Board,
Commission, or Committee 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
Minutes
City Hall
100 Main Street
Colleyville, Texas 76034
817.503.1000
www.colleyville.com
Tuesday, April 20, 2021
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
City Secretary Christine Loven called the Audit Committee to order at 5:00 p.m.
on April 20, 2021.
ROLL CALL: Committee members present George Dodson, Bobby Lindamood, and
Chuck Kelley.
Also Present: Finance Director Kyle Lester, City Manager Jerry Ducay, Assistant
City Manager Mark Wood, and City Secretary Christine Loven
2. APPROVAL OF MINUTES
February 2, 2021
The minutes were approved as presented.
3. REPORTS
Quarterly Investment Report for the quarter ended March 31, 2021
Finance Director Kyle Lester reviewed the quarterly investment report and noted
rates are still falling due to the pandemic, but the City is stilling doing well. There
was general discussion regarding the sweep accounts, investments in CD’s, and
pools. Interest earnings for the quarter were $29,774 compared to $39,784 in the
previous quarter. This decrease is reflective of a declining interest rate market.
Staff will continue to examine cash-flow needs and place our resources in
instruments with an emphasis on keeping these funds safe while earning as strong
a yield as possible.
There was discussion of the Hotel Tax Fund use and of the value earned from the
bond payoff. The Finance Director will add a new table to indicate the savings
overall due to the bond payoff.
4. ADJOURNMENT
The meeting was adjourned at 5:20 p.m.
City of Colleyville Page 2
Audit Committee Minutes April 20, 2021
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary
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 3a Agenda Date 8/3/2021 Number
Type Regular Agenda Items
Department Finance
Title
Discussion of the Fiscal Year September 30, 2021, audit which will be conducted
by the City's audit firm Weaver and Tidwell
Explanation
Discuss the Fiscal Year September 30, 2021 audit which will be conducted by the
City's audit firm Weaver and Tidwell
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 3b Agenda Date 8/3/2021 Number
Type Regular Agenda Items
Department Finance
Title
Presentation of the third quarter FY21 investment report
Explanation
Cash and Cash Equivalents (local government investment pools) totaled
$52,912,874. Colleyville's complete portfolio was valued at $71,024,713 and was
allocated as follows:
Instrument Current as of
6/30/2021
Last Quarter as of
3/31/2021
Cash $ 10,862,280 $ 12,001,929
LOGIC (CP Permissible)$ 2,496,085 $ 2,495,425
Other Governmental
Pools
$ 39,554,510 $ 43,550,959
CD’s $ 13,007,641 $ 12,751,375
CDARS $ 1,604,198 $ 1,604,198
Agencies $ 3,500,000 $ 3,500,000
Total Cash & Investments $ 71,024,713 $ 75,903,887
Instrument Yield this quarter
LOGIC (CP Permissible)0.07 %
Other Governmental
Pools
0.05 %
CD’s 0.49 %
CDARS 0.50 %
Agencies 0.18 %
Total Consolidated Yield 0.15 %
Benchmark Yield: 0.02%
Interest earnings for the quarter were $21,941 compared to $29,774 in the
previous quarter. This decrease is reflective of a declining interest rate market as
well as several maturities coming due in the last quarter. Staff will continue to
examine cash-flow needs and place our resources in instruments with an emphasis
on keeping these funds safe while earning as strong a yield as possible.
Attachments
1. Investment Report - June 2021
2. June 2021
6/30/2021
City of Colleyville, TX
Quarterly Investment Report
Quarterly Investment Report City of Colleyville, TX 6/30/2021
Weighted
3/31/2021 6/30/2021 Change Maturity
Cash 12,001,929$ 10,862,280$ (1,139,649)$ Liquid
Sweep Account -$ -$ -$ Liquid
LOGIC (CP Permiss.)2,495,425$ 2,496,085$ 660$ Liquid
Other Gov't Pools 43,550,959$ 39,554,510$ (3,996,450)$ Liquid
Subtotal 58,048,313$ 52,912,874$ (5,135,439)$
CD's 12,751,375$ 13,007,641$ 256,266$ 338 days
CDARS 1,604,198$ 1,604,198$ -$ 71 days
Agencies 3,500,000$ 3,500,000$ -$ 491 days
Subtotal 17,855,573$ 18,111,839$ 256,266$ 344 days
Total Resources 75,903,887$ 71,024,713$ (4,879,173)$
Criteria
Met?
Policy Max 3/31/2021 6/30/2021
U.S. Treasuries 100%0%0%
U.S. Agencies 75%5%5%
CD's 75%17%18%
Local Gov't Pools 75%61%59%
CDARs 75%2%2%
Tri-Pty Repurchase 75%0%0%
Cash/Sweep N/A 16%15%
Where is Colleyville's cash?
Diversity Snapshot vs. Policy Requirements
0%0%10%SEC Registered, No-
Load Mutual Funds
Cash/
Equivalents
Bonds/CDs/Ag
encies
Investments on the move…
Since our last investment report, the City has had three CD's mature, totaling a little over $1.5 million in
funds. These CD's had a weighted averagematurity of almost 2.5 years and an average return of 1.83%.
In response, staff reinvested all of those proceeds and more in four separate CD's, totaling $1,774,658.
Those CD's have a weighted average maturity of over 1.5 years and an average return of 0.24%.As of
July, the 13-week treasury is currently sitting at 5 basis points while government pools are averaging less
than 2 basis points. Staff will continue to look for opportunities to maximize cash in our reserve funds
by moving them away from pools. However, with the City's cash-funded capital improvement program
ongoing, the City is expected to transition to higher liquidity, meaning lower balances in investments.
The Federal Reserve has indicated their intention to keep borrowing rates low through 2022/2023.
2
Quarterly Investment Report City of Colleyville, TX 6/30/2021
Benchmark =13-Week Treasury
Before the recent downturn Colleyville's investment returns had been climbing steadily since 2016,
primary due to to more active investment practices.Although we are in a down-cycle in terms of returns,
we've still been able to stay ahead of our 13-week treasury benchmark.Most importantly,Colleyville's
funds are safe.While staff will continue to seek a solid yield on the portfolio,the highest value is placed
on maintaining a low risk in order to ensure the safety and liquidity of the funds entrusted to us.
How do our returns compare?
The City's total consolidated return is 0.15%as of June 30,2021.While this remains low,particularly as
older investments mature,this does compare favorably with the 13-week treasury note benchmark listed
in Colleyville's investment policy.A major reason for this is the pandemic,which prompted a a rate cut
at the Federal Reserve affecting our pool and sweep account rates.Additionally,stock market volatility
urged investors to flock to the fixed income markets,which further decreased returns.While currently
heavily invested in pools, staff will seek out agencies to diversify our portfolio as liquidity needs allow.
0.02%
0.15%
0.03%
0.49%0.50%
0.18%
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
13-Wk T Consolidated
Return
Pools CD's CDARS Agencies
Third Quarter, FY21
$-
$20,000
$40,000
$60,000
$80,000
$100,000
$120,000
6/1/2020 9/1/2020 12/1/2020 3/1/2021 6/1/2021
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
Historical Return
Return Rate Interest Earned
3
Quarterly Investment Report City of Colleyville, TX 6/30/2021
3/31/2021 6/30/2020
Thru Thru
6/30/2021 6/30/2021
As the graph above shows,the City had begun moving its investments away from agency securities
and more toward local government pools from 2017 through 2019.Money stored in these pools tended
to earn a decent return compared to market while also being considered "liquid",as the City can
withdraw its funds within 24 hours in most cases.However,as pool rates have plummeted,returns on
certificates of deposit and even some agency debt has looked attractive.Additionally,the years in
which the cash in our bank was higher is actually indicative of a sweep account we previously held
with Wells Fargo,when they served as our depository.Frost Bank offers a similar instrument,but the
rates are such that using the instrument would be cost-prohibitive.Staff will reconsider this option as
rates rise back up.
What have we earned the past three months? For the past year?
Compared to the average quarterly return for the past 12 months,the most recent quarter is showing a
predictable decrease in both the rate of return and actual dollars earned.As noted,fixed-income rates
have come down considerably as investors flocked to the fixed income market amidst the global
pandemic.Additionally,a robust,5-year capital improvement plan has begun,necessitating higher
liquidity than in previous years.Hopefully we won't see rates dip much lower,although there is no
guarantee.Regardless,staff will always monitor the market and manage Colleyville's portfolio with
emphasis on diversity and cash-flow needs.
$21,941; 0.15%$38,484; 0.25%
Current Total Quarterly Average
How has our portfolio changed over time?
47%
24%27%
15%
30%
60%58%
59%
10%18%3%
3%
2%2%19%12%3%5%
2018 2019 2020 2021
PORTFOLIO COMPOSITION
Bank Pools CD's CDARS Agencies
4
Quarterly Investment Report City of Colleyville, TX 6/30/2021
For any questions or comments on this report, please contact Also included:
Kyle Lester, CGFO Maturities/Purchases
City of Colleyville, TX Investment Listing
Finance Director 817-503-1014 Mark-to-Market
klester@colleyville.com
Signed:
This investment report is in compliance with the Public Funds Investment Act as well as the City of
Colleyville's investment policy and procedures.
Per State law, Colleyville is only permitted to invest in certain fixed income securities, whos
performance ties closely with the Federal Funds rate.As the chart above shows, the rates of our 13-
week treasury benchmark as well as our pools tend to move in lock-step with the Federal Reserve's rate
actions. This rate was cut five times in the past year and now remains at close to 0. How long it will
remain there depends on the duration of our decreased economic activity, although we can likely expect
very low rates through 2022 and potentially 2023.
What influences our rate of return?
-
0.50
1.00
1.50
2.00
2.50
3.00
Influence of Federal Funds Rate on Fixed Income Market
13-Wk Coupon Fed Funds Rate Avg Pools
5
Quarterly Investment Report City of Colleyville, TX 6/30/2021
What has matured in the last 12 months?
FHLB Note (313383HU8)500,000$ 8/16/2019 6/12/2020 1.75%7,216$
Brokered CD (FDIC #32992)245,000$ 9/19/2019 9/25/2020 1.80%4,495$
Brokered CD (FDIC #34221)245,000$ 9/19/2019 9/25/2020 1.80%4,495$
Brokered CD (FDIC #34775)245,000$ 9/19/2019 9/25/2020 1.85%4,619$
Brokered CD (FDIC #16022)249,675$ 9/18/2019 9/11/2020 1.75%4,297$
State of Texas Note (882724PY7)2,515,325$ 3/23/2020 8/27/2020 2.50%27,059$
CDARS - Worthington 1,575,617$ 9/18/2019 9/17/2020 1.80%28,361$
FAMCA Note (3130A94N8)2,000,000$ 12/4/2019 5/25/2020 1.71%16,210$
Brokered CD (FDIC #628)248,000$ 2/11/2020 7/31/2020 1.75%2,033$
Brokered CD (FDIC #16571)247,000$ 9/19/2019 10/20/2020 1.80%4,836$
Brokered CD (FDIC #35141)247,000$ 9/19/2019 10/27/2020 1.85%5,058$
Brokered CD (FDIC #2270)247,000$ 9/19/2019 12/24/2020 1.80%5,628$
Brokered CD (FDIC #58647)245,000$ 10/4/2019 10/9/2020 1.75%4,358$
Brokered CD (FDIC #27237)245,000$ 10/4/2019 10/9/2020 1.75%4,358$
Brokered CD (FDIC #12855)245,000$ 10/4/2019 10/9/2020 1.75%4,358$
Brokered CD (FDIC #58658)249,000$ 10/4/2019 10/9/2020 1.75%4,429$
Brokered CD (FDIC #57777)245,000$ 10/4/2019 10/16/2020 1.75%4,440$
Spirit of Texas Jumbo CD 1,013,567$ 12/5/2019 12/5/2020 1.79%18,193$
Brokered CD (FDIC #58243)250,000$ 10/4/2019 1/19/2021 1.70%5,508$
Brokered CD (FDIC #26876)250,000$ 2/28/2020 3/10/2021 1.40%3,605$
Brokered CD (FDIC #58577)246,000$ 2/6/2020 2/12/2021 1.60%4,011$
Brokered CD (FDIC #18503)246,000$ 2/6/2020 2/12/2021 1.60%4,011$
Brokered CD (FDIC #3511)249,000$ 10/4/2019 4/19/2021 1.90%7,297$
Spirit of Texas Jumbo CD 1,025,023$ 10/24/2019 4/24/2021 1.85%28,470$
Brokered CD (FDIC #110)249,000$ 2/14/2020 5/14/2021 1.65%5,122$
Total Matured 11,799,184$ 2.14%171,578$
APPENDIX
Purchase
Date
Maturity
DatePar Amount
Yield to
Maturity
Total
ReturnInvestment
6
Quarterly Investment Report City of Colleyville, TX 6/30/2021
What have we purchased within the last 12 months?
Brokered CD (NCUA #60269)249,000$ 8/10/2020 8/18/2022 0.30%1,510$
Brokered CD (FDIC #23623)250,000$ 8/24/2020 2/24/2022 0.20%752$
Brokered CD (FDIC #33686)249,000$ 8/26/2020 8/26/2022 0.20%996$
Spirit of Texas Jumbo CD 1,502,432$ 9/9/2020 9/9/2021 0.65%9,766$
CDARS - Worthington 1,604,198$ 9/9/2020 9/9/2021 0.50%8,021$
Brokered CD (FDIC #16022)247,000$ 11/9/2020 11/9/2022 0.20%988$
Brokered CD (FDIC #8120)247,000$ 12/23/2020 12/23/2022 0.20%988$
Brokered CD (FDIC #33954)256,586$ 12/22/2020 10/12/2022 0.20%927$
Brokered CD (FDIC #4297)256,481$ 12/22/2020 10/12/2022 0.20%926$
Brokered CD (FDIC #34953)249,000$ 11/16/2020 11/16/2022 0.20%996$
Brokered CD (NCUA #17587)247,000$ 10/29/2020 10/28/2022 0.25%1,233$
Brokered CD (FDIC #845)249,187$ 11/20/2020 6/27/2022 0.20%797$
Brokered CD (FDIC #35141)249,000$ 11/20/2020 11/21/2022 0.20%997$
Spirit of Texas Jumbo CD 1,021,861$ 12/11/2020 12/10/2021 0.55%5,605$
FFCB Note (3133EMHE5)1,500,000$ 12/11/2020 11/30/2022 0.170%5,023$
FFCB Note (3133EMCU4)2,000,000$ 10/13/2020 10/13/2022 0.190%7,600$
Brokered CD (FDIC #32992)244,201$ 10/1/2020 4/2/2022 0.186%682$
Brokered CD (FDIC #17739)240,204$ 8/28/2020 8/29/2022 0.200%962$
Brokered CD (FDIC #148)245,000$ 10/14/2020 10/14/2022 0.150%735$
Brokered CD (NCUA #619)246,000$ 2/21/2021 2/13/2023 0.15%730$
Brokered CD (FDIC #58979)246,000$ 2/19/2021 2/21/2023 0.15%740$
Brokered CD (FDIC #19008)249,000$ 3/30/2021 3/30/2023 0.20%996$
Brokered CD (FDIC #57742)249,000$ 3/30/2021 3/30/2023 0.20%996$
Brokered CD (FDIC #57873)249,000$ 3/31/2021 3/31/2023 0.15%747$
Frost Bank Jumbo CD 1,500,000$ 2/25/2021 2/25/2022 0.16%2,400$
Brokered CD (#33539)249,000$ 6/30/2021 6/30/2023 0.25%1,245$
Brokered CD (#12858)248,000$ 6/29/2021 6/29/2023 0.15%744$
Spirit of Texas Bank (LOC 17001779 $1.875m, exp 5/15/2021)1,028,658$ 4/29/2021 10/29/2022 0.30%4,633$
Brokered CD (#26876)249,000$ 4/8/2021 4/7/2022 0.10%248$
Total Purchased 13,846,149$ 0.33%49,505$
Weighted Average Maturity 642 days
Yield to
MaturityInvestment
APPENDIX
Total
ReturnPar Amount
Purchase
Date
Maturity
Date
7
Quarterly Investment Report City of Colleyville, TX 6/30/2021
Full Investment Listing
Brokered CD (FDIC #27389)249,000$ 2/11/2020 2/22/2022 1.70%8,605$
Brokered CD (FDIC #57803)247,000$ 2/12/2020 1/31/2022 1.70%8,271$
Brokered CD (FDIC #34742)249,000$ 2/28/2020 3/21/2022 1.40%7,182$
Brokered CD (FDIC #58665)249,000$ 2/28/2020 9/7/2021 1.55%5,890$
Brokered CD (FDIC #35546)249,000$ 2/28/2020 3/28/2022 1.55%8,026$
Brokered CD (FDIC #58978)248,000$ 3/6/2020 3/28/2022 1.05%5,365$
Brokered CD (FDIC #33555)248,000$ 3/6/2020 3/21/2022 0.98%4,935$
Brokered CD (FDIC #57565)249,000$ 3/6/2020 3/11/2022 1.00%5,014$
Brokered CD (FDIC #19581)250,000$ 3/6/2020 3/21/2022 0.90%4,592$
Brokered CD (NCUA #68712)249,000$ 3/10/2020 9/20/2021 1.00%3,813$
Brokered CD (NCUA #60269)249,000$ 8/10/2020 8/18/2022 0.30%1,510$
Brokered CD (FDIC #23623)250,000$ 8/24/2020 2/24/2022 0.20%752$
Brokered CD (FDIC #33686)249,000$ 8/26/2020 8/26/2022 0.20%996$
Brokered CD (FDIC #17739)240,204$ 8/28/2020 8/29/2022 0.200%962$
Spirit of Texas Jumbo CD 1,507,308$ 9/9/2020 9/9/2021 0.65%9,798$
CDARS - Worthington 1,604,198$ 9/9/2020 9/9/2021 0.50%8,021$
Brokered CD (FDIC #32992)244,201$ 10/1/2020 4/2/2022 0.186%682$
FFCB Note (3133EMCU4)2,000,000$ 10/13/2020 10/13/2022 0.190%7,600$
Brokered CD (FDIC #148)245,000$ 10/14/2020 10/14/2022 0.150%735$
Brokered CD (NCUA #17587)247,000$ 10/29/2020 10/28/2022 0.25%1,233$
Brokered CD (FDIC #16022)247,000$ 11/9/2020 11/9/2022 0.20%988$
Brokered CD (FDIC #34953)249,000$ 11/16/2020 11/16/2022 0.20%996$
Brokered CD (FDIC #845)249,187$ 11/20/2020 6/27/2022 0.20%797$
Brokered CD (FDIC #35141)249,000$ 11/20/2020 11/21/2022 0.20%997$
Spirit of Texas Jumbo CD 1,020,893$ 12/11/2020 12/10/2021 0.55%5,600$
FFCB Note (3133EMHE5)1,500,000$ 12/11/2020 11/30/2022 0.170%5,023$
Brokered CD (FDIC #33954)256,586$ 12/22/2020 10/12/2022 0.20%927$
Brokered CD (FDIC #4297)256,481$ 12/22/2020 10/12/2022 0.20%926$
Brokered CD (FDIC #8120)247,000$ 12/23/2020 12/23/2022 0.20%988$
Brokered CD (FDIC #58979)246,000$ 2/19/2021 2/21/2023 0.150%740$
Brokered CD (NCUA #619)246,000$ 2/21/2021 2/13/2023 0.150%730$
Frost Bank Jumbo CD 1,500,000$ 2/25/2021 2/25/2022 0.160%2,400$
Brokered CD (FDIC #19008)249,000$ 3/30/2021 3/30/2023 0.200%996$
Brokered CD (FDIC #57742)249,000$ 3/30/2021 3/30/2023 0.200%996$
Brokered CD (FDIC #57873)249,000$ 3/31/2021 3/31/2023 0.150%747$
Brokered CD (#33539)249,000$ 6/30/2021 6/30/2023 0.25%1,245$
Brokered CD (#12858)248,000$ 6/29/2021 6/29/2023 0.15%744$
Spirit of Texas Bank (LOC 17001779 $1.875m, exp 5/15/2021)1,028,658$ 4/29/2021 10/29/2022 0.30%4,633$
Brokered CD (#26876)249,000$ 4/8/2021 4/7/2022 0.10%248$
Investment Par Amount
Purchase
Date
Maturity
Date
Yield to
Maturity Total Return
APPENDIX
8
Quarterly Investment Report City of Colleyville, TX 6/30/2021
Full Investment Listing (Continued)
Total 18,111,715$ 0.43%124,705$
Weighted Average Maturity 337 days
Investment Par Amount Purchase Date Maturity Date Yield to Maturity Total Return
9
Quarterly Investment Report City of Colleyville, TX 6/30/2021
Mark-to-Market
3/31/2021 6/30/2021
Market Value Market Value
Brokered CD (FDIC #34742)249,000$ 252,185$ 251,428$ 2,428$
Brokered CD (FDIC #27389)249,000$ 252,611$ 251,642$ 2,642$
Brokered CD (FDIC #58665)249,000$ 250,626$ 249,695$ 695$
Brokered CD (FDIC #57803)247,000$ 250,374$ 249,386$ 2,386$
Brokered CD (FDIC #35546)249,000$ 252,613$ 251,769$ 2,769$
Brokered CD (FDIC #58978)248,000$ 250,386$ 249,850$ 1,850$
Brokered CD (FDIC #33555)248,000$ 250,225$ 249,711$ 1,711$
Brokered CD (FDIC #57565)249,000$ 251,159$ 250,641$ 1,641$
Brokered CD (NCUA #68712)249,000$ 250,113$ 249,525$ 525$
Brokered CD (FDIC #19581)250,000$ 251,979$ 251,532$ 1,532$
Spirit of Texas Bank CDs (2)2,528,201$ 2,523,570$ 2,528,201$ -$
Brokered CD (NCUA #60269)249,000$ 249,630$ 249,530$ 530$
Brokered CD (FDIC #23623)250,000$ 250,273$ 250,239$ 239$
Brokered CD (FDIC #33686)249,000$ 249,463$ 249,391$ 391$
Spirit of Texas CD (New)1,028,658$ N/A 1,028,658$ -$
CDARS - Worthington 1,604,198$ 1,604,198$ 1,604,198$ -$
Brokered CD (FDIC #16022)247,000$ 247,269$ 247,198$ 198$
Brokered CD (FDIC #8120)247,000$ 247,091$ 247,027$ 27$
Brokered CD (FDIC #33954)256,586$ 255,410$ 254,054$ (2,531)$
Brokered CD (FDIC #4297)256,481$ 255,410$ 254,054$ (2,426)$
Brokered CD (FDIC #34953)249,000$ 249,271$ 249,192$ 192$
Brokered CD (NCUA #17587)247,000$ 247,042$ 247,042$ 42$
Brokered CD (FDIC #845)249,187$ 249,286$ 249,264$ 77$
Brokered CD (FDIC #35141)249,000$ 249,269$ 249,189$ 189$
FFCB Note (3133EMHE5)1,500,000$ 1,499,655$ 1,498,560$ (1,440)$
FFCB Note (3133EMCU4)2,000,000$ 2,000,000$ 2,000,000$ -$
Brokered CD (FDIC #32992)244,201$ 247,305$ 242,376$ (1,825)$
Brokered CD (FDIC #17739)240,204$ 240,276$ 240,235$ 31$
Brokered CD (FDIC #148)245,000$ 245,086$ 245,056$ 56$
Brokered CD (FDIC #58979)246,000$ 245,995$ 245,884$ (116)$
Brokered CD (NCUA #619)246,000$ 246,002$ 245,897$ (103)$
Frost Bank Jumbo CD 1,500,000$ 1,500,000$ 1,500,000$ -$
Brokered CD (FDIC #19008)249,000$ 249,212$ 249,035$ 35$
Brokered CD (FDIC #57742)249,000$ 249,209$ 249,035$ 35$
Brokered CD (FDIC #57873)249,000$ 248,960$ 248,816$ (184)$
Brokered CD (#33539)249,000$ N/A 249,125$ 125$
Brokered CD (#12858)248,000$ N/A 247,630$ (370)$
Brokered CD (#26876)249,000$ N/A 249,080$ 80$
Total 18,111,715$ 16,361,154$ 18,123,146$ 11,430$
APPENDIX
Investment Par Amount
Unrealized
Gain/(Loss) since
Purchase
10
Quarterly Investment Report City of Colleyville, TX 6/30/2021
MBS
MBS
MBS
MBS
MBS
Note about mark-to-market:This analysis takes a snapshot look at each of the securities Colleyville
holds and values them based on what the market would pay for them today.An unrealized gain in
market value would indicate the security's value has gone up since the last mark-to-market,and an
unrealized loss would indicate the value has gone down.However,the City of Colleyville's strategy is
to buy securities and hold them to maturity to receive the agreed-upon interest payments (known as
"buy and hold").Therefore,any change in market value will not be realized by the City.The primary
purpose of this analysis,as required by the Public Funds Investment Act,is to demonstrate the current
market value of the City's portfolio should we need to liquidate it in the case of an emergency.This
scenario is extremely unlikely,given the prudence Colleyville's leaders have shown in their financial
decisions. It is important to remember this when looking at our quarterly mark-to-market analysis.
APPENDIX
11
Quarterly Investment Report
3rd Q, FY2021
August 3, 2021
As required by the Public Funds Investment Act, §2256.023
Cash Position Overview
[PERCENTAGE
]
[PERCENTAGE
]
[PERCENTAGE
]
[PERCENTAGE
]
Cash/Sweep Pools CD/CDARS Agencies
Return Summary
0.02%
0.15%
0.03%
0.49%0.50%
0.18%
Third Quarter,
FY21
13-Wk T Consolidated
Return
Pools CD's CDARS Agencies
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
03/31/2021:
[VALUE]
06/30/2021:
[VALUE]
Rate of
Return
0.00%
0.02%
0.04%
0.06%
0.08%
0.10%
0.12%
0.14%
0.16%
0.18%
0.20%
0.22%
Return Summary
Historical
Return
43983 44075 44166 44256 44348
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.70%
$ -
$ 20,000
$ 40,000
$ 60,000
$ 80,000
$ 100,000
$ 120,000
Return Rate Interest Earned
Influence of Federal Funds Rate on
Fixed Income Market
4148541638417894194242093422464239942551427044285543008431594330943462436134376643918440714422444375 -
0.50
1.00
1.50
2.00
2.50
3.00
13-Wk Coupon Fed Funds Rate Avg Pools
Mark-to-Market
Public Funds Investment Act Requirement
Mark-to-Market: A snapshot of what our investments would sell at compared to
what we purchased them for.
•Purpose is to show our overall portfolio value
•We hold our investments until maturity (“buy and hold” strategy)
•Gains and losses shown in this analysis are unrealized
Par Value 03/31 Value Total Gain (loss) on
Purchase Price
$ 18,111,715 $ 18,123,146 $ 11,430
CEDC Payoff
December 2020: Paid off $4.775m in CEDC Bond principle.
•Total interest saved through 2027 = $645,000 (2.88% interest)
•$117,000 was to be paid in FY21
•Currently earning 0.15% aggregate ~ $7,100 in interest earning potential
•Would have been a net FY21 loss of $109,900 ($117,000 - $7,100 in earning potential)
•If we count the interest we would have paid as a net benefit to the City, our aggregate return
rate would actually be closer to 0.25%.
Questions/Comments