HomeMy WebLinkAboutAudit Committee-Agenda Packets-1/15/2013City 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 15, 2013
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, 2012 audit and
SAS 114 Letter
2b Presentation of the Quarterly Investment Report
3. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, January 11,
2013, by 5:00 p.m.
Terry Leake
Assistant City Manager and Chief Financial Officer
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 01/15/2013 Number 2a
Type Presentation and Discussion
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, 2012 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, 2012 audit and SAS
114 letter.
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 01/15/2013 Number 2b
Type Presentation and Discussion
Department City Manager
Title
Presentation of the Quarterly Investment Report
Explanation
During the period of October 1, 2012 through December 31, 2012, the City of
Colleyville had an average of $45,363,940 invested on a daily basis, which earned
$28,706, with an average yield of 0.25%. The average yield on investments for this
quarter is down from the prior quarter's average of 0.26%. As of December 31, 2012,
the City had $47,900,757 invested in the LOGIC Investment Pool, CDARS Certificates
of Deposit and various debt instruments in the following percentages:
Logic 49.64% FFCB Notes 26.72%
FHLB Notes 9.08% CDARS CD’S 8.38%
FNMA Notes 3.46% Treasury Note 2.71%
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, 2012
was $20,145,346 as compared to a purchase price of $20,203,222 (this excludes
LOGIC Investment Pool and CDARS Certificates of Deposit).
The Colleyville Economic Development Corporation currently holds a Treasury Note
($550,000) with a market value of $552,922 and a purchase price of $554,469.
Additionally, $1,095,963 was invested in the Corporation's name in the LOGIC
Investment Pool. These funds earned interest of $736 for the quarter.
Attachments
1.Quarterly investment report for December 31, 2012