HomeMy WebLinkAboutAudit Committee-Agenda Packets-6/7/2022City 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, June 7, 2022
5:00 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1.CALL TO ORDER
2.APPROVAL OF MINUTES
March 2, 2022
3.REPORTS
Quarterly Investment Report for the quarter ended March 31, 2022
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, June 3,
2022, 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
Wednesday, March 2, 2022
6:15 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 6:15 p.m.
ROLL CALL: Committee members present George Dodson, Bobby Lindamood, and
Chuck Kelley.
Also Present: Finance Director Kyle Lester, Accounting Manager Karen Hines, City
Manager Jerry Ducay, Assistant City Manager Adrienne Lothery, and City Secretary
Christine Loven
2. APPROVAL OF MINUTES
The December 7, 2021 minutes were approved as presented.
3. REGULAR AGENDA ITEMS
3a Discussion of the draft FY21 audit and SAS 114 letter
Jennifer Ripka, partner, Weaver and Tidwell, the City’s Auditor, gave an overview
of her experience and explained the audit process. Ms. Ripka stated the City
received an unmodified report, which is the highest report that can be given. She
noted there were no material weaknesses, no significant deficiencies, and no noted
noncompliance material to the financial statements. Ms. Ripka stated the reporting
result in the Federal Awards audit is also unmodified. She went on to review
GASBE 84 and provided financial highlights.
Ms. Ripka thanked Kyle Lester and Karen Hines for their assistance and told the
Committee they are good to work with and it is very appreciated.
The Committee thanked Ms. Ripka.
4. REPORTS
4a Presentation of the Quarterly Investment Report for the quarter ended
December 31, 2021.
Audit Committee Minutes March 2, 2022
City of Colleyville Page 2
Finance Director Kyle Lester presented the quarterly investment report, noting
interest earnings for the quarter were $17,073 compared to $15,943 in the
previous quarter, reflecting a more optimistic market, anticipated Federal Reserve
action, and a few maturities coming due in the last quarter. He stated staff would
continue to examine cash-flow needs and place resources in instruments with an
emphasis on keeping these funds safe while earning as strong a yield as possible.
There was general discussion of the City’s financial strategies and goals.
5. ADJOURNMENT
The meeting was adjourned at 6:47 p.m.
PASSED BY A VOTE OF AYES, NAYS, AND ABSTENTIONS, THIS 7TH DAY OF
JUNE 2022.
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 Agenda Date 6/7/2022 Number
Type Report
Department Finance
Title
Quarterly Investment Report for the quarter ended March 31, 2022
Explanation
Cash and Cash Equivalents (local government investment pools) totaled
$52,983,565. Colleyville’s complete portfolio was valued at $69,240,618, and
was allocated as follows:
Instrument Current as of 03/31/2022 Last Quarter as of
12/31/2021
Cash $ 11,170,734 $ 16,476,222
LOGIC (CP Permissible) $ 2,497,586 $ 2,496,508
Other Governmental Pools $ 39,315,245 $ 27,307,582
CD’s $ 10,756,803 $ 12,242,273
CDARS $ -$ -
Agencies $ 5,500,250 $ 5,500,250
Total Cash & Investments $ 69,240,618 $ 64,022,836
Instrument Yield this quarter
LOGIC (CP Permissible)0.16 %
Other Governmental Pools 0.075 %
CD’s 0.52 %
CDARS 0.00 %
Agencies 0.39 %
Total Consolidated Yield 0.19 %
Benchmark Yield: 0.31% (as included in the report, our T-bill benchmark rose
rapidly this quarter while our government pool rates lagged substantially behind,
lowering our consolidated return)
Interest earnings for the quarter were $22,060 compared to $17,073 in the
previous quarter. This is reflective of a more optimistic market, anticipated
Federal Reserve action, and a few maturities coming due in the last quarter. Staff
will continue to examine cash-flow needs and place our resources in instruments
with an emphasis on keeping these funds safe while earning as strong a yield as
possible.
Attachments
1.Investment Report - Mar 2022
2.March 2022
Audit Committee Agenda Briefing
City of Colleyville Page 2
3/31/2022
City of Colleyville, TX
Quarterly Investment Report
Quarterly Investment Report City of Colleyville, TX 03/31/2022
2
Weighted
12/31/2021 3/31/2022 Change Maturity
Cash 16,476,222$ 11,170,734$ (5,305,488)$ Liquid
Sweep Account -$ -$ -$ Liquid
LOGIC (CP Permiss.)2,496,508$ 2,497,586$ 1,077$ Liquid
Other Gov't Pools 27,307,582$ 39,315,245$ 12,007,663$ Liquid
Subtotal 46,280,313$ 52,983,565$ 6,703,253$
CD's 12,242,273$ 10,756,803$ (1,485,471)$ 328 days
CDARS -$ -$ -$ 0 days
Agencies 5,500,250$ 5,500,250$ -$ 367 days
Subtotal 17,742,523$ 16,257,052$ (1,485,471)$ 341 days
Total Resources 64,022,836$ 69,240,618$ 5,217,782$
Investments on the move…
Criteria
Met?
Policy Max 12/31/2021 3/31/2022
U.S. Treasuries 100%0%0%
U.S. Agencies 75%9%8%
CD's 75%19%16%
Local Gov't Pools 75%47%60%
CDARs 75%0%0%
Tri-Pty Repurchase 75%0%0%
Cash/Sweep N/A 26%16%
Where is Colleyville's cash?
Diversity Snapshot vs. Policy Requirements
0%0%10%SEC Registered, No-
Load Mutual Funds
The second quarter of FY22 brought a large influx of cash with the majority of property tax receipts
becoming due, most of which were allocated to the City's pools as that cash will be drawn down through
this year.This period has also represented a transition in the market, as the Federal Reserve's widely
circulated willingness to raise the interbank borrowing rate galvenized markets.The City's benchmark
target of the 13-week treasury bill which rose rapidly,ascending almost 50 basis points from January
through the end of March.Unfortunately, our investment pools have lagged significantly behind,
lowering Colleyville's overall consolidated return.However,yields on agency debt and certificates of
deposit have risen exponentially,and staff has been able to capitalize on those higher yields by moving
cash away from pools in the months of April and May.
Cash/
Equivalents
Bonds/CDs/Ag
encies
Quarterly Investment Report City of Colleyville, TX 03/31/2022
3
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,until recently we've still been able to stay ahead of our 13-week treasury benchmark.We will
continue to see the City's returns increase in subsequent reports.Most importantly, Colleyville's funds
are safe.Our 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 was 0.19%as of March 31, 2022.As noted on the previous page,
this is the first time our total return lags behind our benchmark of the 13-week treasury note.This is due
to the rapid increase in yield on treasuries paired with a slower market increase in returns on
governmental pools.Since January,the Federal Reserve Bank has committed to increasing its interbank
borrowing rate to counter inflationary pressures,which in turn has increased fixed income yields.In
fact,City staff was able to invest a total of $3 million in higher-earning agency debt instruments with a
total consolidated return of 2.8%.These investments will show up on our next report,dramatically
increasing the City's overall consolidated return.
0.31%
0.19%
0.08%
0.52%
0.39%
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
13-Wk T Consolidated
Return
Pools CD's Agencies
Second Quarter, FY22
$-
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
3/1/2020 6/1/2020 9/1/2020 12/1/2020 3/1/2021 6/1/2021 9/1/2021 12/1/2021 3/1/2022
0.00%
0.50%
1.00%
1.50%
2.00%
Historical Return
Return Rate Interest Earned
Quarterly Investment Report City of Colleyville, TX 03/31/2022
4
12/31/2021 3/31/2021
Thru Thru
3/31/2022 3/31/2022
As the graph above shows, the City's portfolio makeup has remained fairly static over the years.
However,our change in depository banks led staff to shy away from the sweep account instrument that
had been heavily used with Wells Fargo.As a result,cash has been moved from our bank and into other
instruments more frequently. Money stored in government 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.With the market's recent shift back toward agency debt,we
should see a more diverse portfolio in the future.
What have we earned the past three months? For the past year?
How has our portfolio changed over time?
$22,060; 0.19%$19,254; 0.16%
Current Total Quarterly Average
Compared to the average quarterly return for the past 12 months, the most recent quarter is showing a
slight increase in the rate of return.As noted, fixed-income rates have begun to climb amidst the actions
from the Federal Reserve.As noted previously,staff has been able to capitalize on these higher yields,
although those instruments won't show up until our next report.Federal agency debt has been
particularly attractive as of late,although we will need to balance investments with our robust 5-year
capital improvement plan,which necessitates higher liquidity than in previous years. Staff will always
monitor the market and manage Colleyville's portfolio with emphasis on diversity and cash-flow needs.
22%24%16%16%
61%58%
61%60%
17%16%3%
2%2%0%14%5%5%8%
2020 2021 2022 2023
PORTFOLIO COMPOSITION
Bank Pools CD's CDARS Agencies
Quarterly Investment Report City of Colleyville, TX 03/31/2022
5
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.
What influences our rate of return?
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 timessince the beginning of the pandemic but recent increases put the
rate around 0.33%. Numerous Fed members indicated an expected four-step increase in 2023,with
further increases in 2022 as well.Furthermore,Fitch Ratings forecasts a rate of 1.75% by the end of
2023.
-
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
Quarterly Investment Report City of Colleyville, TX 03/31/2022
6
What has matured in the last 12 months?
Length
Brokered CD (FDIC #34742)249,000$ 3/21/2022 2.06 1.40%7,182$
Brokered CD (FDIC #27389)249,000$ 2/22/2022 2.03 1.70%8,605$
Brokered CD (FDIC #57803)247,000$ 1/31/2022 1.97 1.70%8,271$
Brokered CD (FDIC #35546)249,000$ 3/28/2022 2.08 1.55%8,026$
Brokered CD (FDIC #58978)248,000$ 3/28/2022 2.06 1.05%5,365$
Brokered CD (FDIC #33555)248,000$ 3/21/2022 2.04 1.00%5,062$
Brokered CD (FDIC #57565)249,000$ 3/11/2022 2.01 1.00%5,014$
Brokered CD (FDIC #23623)250,000$ 2/24/2022 1.50 0.20%752$
Frost Bank CD 1,500,000$ 2/25/2022 1.00 0.16%2,400$
Brokered CD (FDIC #19581)250,000$ 3/21/2022 2.04 0.90%4,592$
Brokered CD (FDIC #58243)250,000$ 1/19/2021 1.30 1.70%5,508$
Brokered CD (FDIC #26876)250,000$ 3/10/2021 1.03 1.40%3,605$
Brokered CD (FDIC #58577)246,000$ 2/12/2021 1.02 1.60%4,011$
Brokered CD (FDIC #18503)246,000$ 2/12/2021 1.02 1.60%4,011$
Brokered CD (FDIC #3511)249,000$ 4/19/2021 1.54 1.90%7,297$
Spirit of Texas Jumbo CD 1,025,023$ 4/24/2021 1.50 1.85%28,470$
Brokered CD (FDIC #110)249,000$ 5/14/2021 1.25 1.65%5,122$
Brokered CD (FDIC #110)249,000$ 5/14/2021 1.25 1.65%5,122$
Brokered CD (FDIC #58665)249,000$ 9/7/2021 1.53 1.55%5,890$
Brokered CD (NCUA #68712)249,000$ 9/20/2021 1.53 1.00%3,813$
CDARS (Worthington Bank)1,604,198$ 9/9/2021 1.00 0.50%8,021$
Total Matured 8,605,221$ 1.05%136,141$
APPENDIX
Maturity
DatePar Amount
Yield to
Maturity Total ReturnInvestment
Quarterly Investment Report City of Colleyville, TX 03/31/2022
7
What have we purchased within the last 12 months?
Spirit of Texas Jumbo CD 1,509,779$ 9/9/2021 9/9/2022 0.40%6,039$
FHLB Note (3130AQ3X9)2,000,250$ 12/22/2021 12/22/2023 0.75%30,004$
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 17001 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$
Brokered CD (FDIC #33124)250,000$ 7/28/2021 7/28/2023 0.25%1,250$
Brokered CD (FDIC #34404)249,000$ 9/29/2021 9/29/2023 0.30%1,494$
Brokered CD (NCUA #227)249,000$ 9/29/2021 3/29/2024 0.40%2,489$
Frost Bank CD 1,502,400$ 2/25/2022 2/25/2024 1.510%45,372$
Brokered CD (FDIC #27471)250,000$ 3/2/2022 3/4/2024 1.600%8,033$
Brokered CD (FDIC #32574)250,000$ 3/9/2022 3/6/2024 1.500%7,479$
Total Purchased 10,774,087$ 0.58%115,640$
Weighted Average Maturity 606 days
Yield to
MaturityInvestment Total ReturnPar Amount
Purchase
Date
Maturity
Date
APPENDIX
Quarterly Investment Report City of Colleyville, TX 03/31/2022
8
Full Investment Listing
Brokered CD (FDIC #27471)250,000$ 250,000$ 3/2/2022 1.60%8,033$
Brokered CD (FDIC #32574)250,000$ 250,000$ 3/9/2022 1.50%7,479$
Brokered CD (NCUA #227)249,000$ 249,000$ 9/29/2021 0.40%2,489$
Brokered CD (FDIC #35546)249,000$ 249,000$ 2/28/2020 1.55%8,026$
Brokered CD (FDIC #33124)250,000$ 250,000$ 7/28/2021 0.25%1,250$
Brokered CD (NCUA #60269)249,000$ 249,000$ 8/10/2020 0.30%1,510$
Brokered CD (FDIC #33686)249,000$ 249,000$ 8/26/2020 0.20%996$
Brokered CD (FDIC #17739)240,204$ 240,204$ 8/28/2020 0.200%962$
Spirit of Texas Jumbo CD 1,512,776$ 1,512,776$ 9/9/2021 0.40%6,051$
Brokered CD (FDIC #34404)249,000$ 249,000$ 9/29/2021 0.30%1,494$
Brokered CD (FDIC #32992)244,201$ 244,201$ 10/1/2020 0.186%682$
FFCB Note (3133EMCU4)2,000,000$ 2,000,000$ 10/13/2020 0.190%7,600$
Brokered CD (FDIC #148)245,000$ 245,000$ 10/14/2020 0.150%735$
Brokered CD (NCUA #17587)247,000$ 247,000$ 10/29/2020 0.25%1,233$
Brokered CD (FDIC #16022)247,000$ 247,000$ 11/9/2020 0.20%988$
Brokered CD (FDIC #34953)249,000$ 249,000$ 11/16/2020 0.20%996$
Brokered CD (FDIC #845)249,187$ 249,187$ 11/20/2020 0.20%797$
Brokered CD (FDIC #35141)249,000$ 249,000$ 11/20/2020 0.20%997$
FHLB Note (3130AQ3X9)2,000,250$ 2,000,250$ 12/22/2021 0.75%30,004$
FFCB Note (3133EMHE5)1,500,000$ 1,500,000$ 12/11/2020 0.170%5,023$
Brokered CD (FDIC #33954)256,586$ 256,586$ 12/22/2020 0.20%927$
Brokered CD (FDIC #4297)256,481$ 256,481$ 12/22/2020 0.20%926$
Brokered CD (FDIC #8120)247,000$ 247,000$ 12/23/2020 0.20%988$
Brokered CD (FDIC #58979)246,000$ 246,000$ 2/19/2021 0.150%740$
Brokered CD (NCUA #619)246,000$ 246,000$ 2/21/2021 0.150%730$
Frost Bank Jumbo CD 1,502,400$ 1,502,400$ 2/25/2022 1.510%45,372$
Brokered CD (FDIC #19008)249,000$ 249,000$ 3/30/2021 0.200%996$
Brokered CD (FDIC #57742)249,000$ 249,000$ 3/30/2021 0.200%996$
Brokered CD (FDIC #57873)249,000$ 249,000$ 3/31/2021 0.150%747$
Brokered CD (#33539)249,000$ 249,000$ 6/30/2021 0.25%1,245$
Brokered CD (#12858)248,000$ 248,000$ 6/29/2021 0.15%744$
Spirit of Texas Bank (LOC 17001 1,030,969$ 1,030,969$ 4/29/2021 0.30%4,644$
Brokered CD (#26876)249,000$ 249,000$ 4/8/2021 0.10%248$
Total 16,257,052$ 0.47%146,649$
Weighted Average Maturity 320 days
Yield to
Maturity Total Return
Purchase
DateInvestmentPar Amount
APPENDIX
Purchase
Quarterly Investment Report City of Colleyville, TX 03/31/2022
9
Mark-to-Market
12/31/2021 3/31/2022
Market Value Market Value
Brokered CD (FDIC #27471)250,000$ N/A 247,807$ (2,193)$
Brokered CD (FDIC #32574)250,000$ N/A 247,299$ (2,701)$
Brokered CD (NCUA #227)249,000$ 247,274$ 240,629$ (8,371)$
Brokered CD (FDIC #35546)249,000$ N/A 248,255$ (745)$
Brokered CD (#26876)249,000$ N/A 248,983$ (17)$
Brokered CD (FDIC #33124)250,000$ 248,924$ 245,676$ (4,324)$
Spirit of Texas Bank CDs (2)2,543,745$ 2,543,745$ 2,543,745$ -$
Brokered CD (NCUA #60269)249,000$ 249,035$ 248,639$ (361)$
Brokered CD (FDIC #33686)249,000$ 248,948$ 248,527$ (473)$
FHLB Note (3130AQ3X9)2,000,250$ 1,998,494$ 1,955,905$ (44,344)$
Brokered CD (FDIC #34404)249,000$ 247,805$ 243,771$ (5,229)$
Brokered CD (FDIC #16022)247,000$ 246,736$ 245,948$ (1,052)$
Brokered CD (FDIC #8120)247,000$ 246,634$ 245,656$ (1,344)$
Brokered CD (FDIC #33954)256,586$ 250,942$ 248,934$ (7,652)$
Brokered CD (FDIC #4297)256,481$ 250,942$ 248,934$ (7,547)$
Brokered CD (FDIC #34953)249,000$ 248,719$ 247,894$ (1,106)$
Brokered CD (NCUA #17587)247,000$ 246,862$ 246,089$ (911)$
Brokered CD (FDIC #845)249,187$ 248,938$ 248,851$ (336)$
Brokered CD (FDIC #35141)249,000$ 248,706$ 247,865$ (1,135)$
FFCB Note (3133EMHE5)1,500,000$ 1,497,825$ 1,488,285$ (11,715)$
FFCB Note (3133EMCU4)2,000,000$ 1,999,620$ 1,989,200$ (10,800)$
Brokered CD (FDIC #32992)244,201$ 240,689$ 240,024$ (4,177)$
Brokered CD (FDIC #17739)240,204$ 239,866$ 239,477$ (727)$
Brokered CD (FDIC #148)245,000$ 244,691$ 244,045$ (956)$
Brokered CD (FDIC #58979)246,000$ 245,304$ 243,798$ (2,202)$
Brokered CD (NCUA #619)246,000$ 245,336$ 243,914$ (2,086)$
Frost Bank Jumbo CD 1,502,400$ 1,502,400$ 1,502,400$ -$
Brokered CD (FDIC #19008)249,000$ 248,293$ 246,273$ (2,727)$
Brokered CD (FDIC #57742)249,000$ 248,295$ 246,288$ (2,712)$
Brokered CD (FDIC #57873)249,000$ 248,133$ 246,156$ (2,844)$
Brokered CD (#33539)249,000$ 248,064$ 245,131$ (3,869)$
Brokered CD (#12858)248,000$ 246,700$ 243,858$ (4,142)$
Total 16,257,052$ 15,227,920$ 16,118,256$ (138,797)$
Unrealized
Gain/(Loss) since
PurchaseInvestmentInitial Value
APPENDIX
Quarterly Investment Report City of Colleyville, TX 03/31/2022
10
247,000$ 256,586
247,000$ 256,481$
249000 249,187$
MBS
240000 244,201$
240000 240,204$
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.
Predictably,the fixed income market's recent turn upward would lead most of the City's securities,
purchased at lower yields, to be uncompetitive and therefore not particularly marketable as
secondary securities.This means the City would likely realize a loss in the event any security needs
to be liquidated. However, as stated above, this is not a likely scenario.
APPENDIX
Quarterly Investment Report
2nd Q, FY2022
June 7, 2022
As required by the Public Funds Investment Act, §2256.023
Cash Position Overview
16%
60%
16%
8%
Cash/Sweep Pools CD/CDARS Agencies
Return Summary
13-Wk T Consolidated
Return
Pools CD's Agencies
0.00%
0.10%
0.20%
0.30%
0.40%
0.50%
0.60%
0.31%
0.19%
0.08%
0.52%
0.39%
SECOND QUARTER, FY22
0.00%
0.05%
0.10%
0.15%
0.20%
0.25%
3/31/2021:
0.20%3/31/2022:
0.19%
Rate of Return
Return Summary
3/1/20206/1/20209/1/202012/1/20203/1/20216/1/20219/1/202112/1/20213/1/20220.00%
0.20%
0.40%
0.60%
0.80%
1.00%
1.20%
1.40%
1.60%
$ -
$ 50,000
$ 100,000
$ 150,000
$ 200,000
$ 250,000
$ 300,000
$ 350,000
Historical Return
Return Rate Interest Earned
4/29/20144/29/20154/29/20164/29/20174/29/20184/29/20194/29/20204/29/2021 -
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
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
•Higher fixed income yields in market than most of our portfolio makes them difficult to sell as
secondary securities
Value at Purchase 03/31 Value Total Gain (loss) on
Purchase Price
$ 16,257,052 $ 16,118,256 ($ 138,797)
Questions/Comments