HomeMy WebLinkAboutAudit Committee-Agenda Packets-8/15/2023
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE AGENDA
100 Main Street, Colleyville, Texas, 76034
City Manager's Conference Room - Third Floor
TUESDAY, AUGUST 15, 2023 - 5:00 PM
1. CALL TO ORDER
2. APPROVAL OF MINUTES
May 2, 2023
3. REGULAR AGENDA ITEMS
3a Discussion of the Fiscal Year September 30, 2023, audit which will be
conducted by the City's audit firm Weaver and Tidwell
3b Presentation of the third quarter FY23 investment report
4. ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 11,
2023 by 5:00 p.m.
Christine Loven, TRMC
City Secretary
A quorum of any Colleyville board, commission, or committee may be present at this
meeting. Any matter on this agenda may be opened for public comment and discussion at
the discretion of the governing body.
If you plan to attend this public meeting and have a disability that requires special
accommodations, please advise the City Secretary at least 48 hours in advance at
817.503.1130, 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, May 2, 2023
4:30 p.m.
City Manager’s Conference Room
Third Floor – City Hall
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 4:31 p.m. and called
the roll.
PRESENT: Committee members George Dodson, Brandi Elder, and Chuck Kelley.
ALSO PRESENT: Director of Finance Kyle Lester, Accounting Manager Karen
Hines, City Manager Jerry Ducay, Assistant City Manager Mark Wood, Human
Resources Director Jesse Perez, and City Secretary Christine Loven.
2. APPROVAL OF MINUTES
February 21, 2023
The February 21, 2023 minutes were unanimously approved.
3. REGULAR AGENDA ITEMS
3a Discussion of the Request for Proposal and selection process for external
auditing services for the Fiscal Years ending September 30, 2023
through September 30, 2027
Finance Director Kyle Lester reviewed the Request for Proposal and staff scoring
process. He noted there will be two firms which meet all the criteria and
deadlines.
3b Interview of audit firms submitting proposals in response to the City’s
request for proposals for an external audit firm
The Audit Committee heard proposals and interviewed two auditing firms: Forvis
and Weaver
3c Review the sealed cost portion of the audit proposals and consider a
recommendation to City Council for the selection of an audit firm
Following the interviews the bids were opened and reviewed. The Audit Committee
agreed Weaver was a better fit based on experience, locale, and cost.
Audit Committee Minutes May 2, 2023
City of Colleyville Page 2
4. REPORTS
Quarterly Investment Report for the quarter ended March 31, 2023
Director Lester reviewed the investment report, discussing the City’s cash position,
summarized the quarterly returns and reviewed the Mark-to-Market.
Update on future discussion items and initiatives
Director Lester provided a high-level overview of items and initiatives which are
planned for FY23 and will be brought to the committee for discussion.
5. ADJOURNMENT
The meeting was adjourned at 5:28 p.m.
PASSED BY A VOTE OF AYES, NAYS, AND ABSTENTIONS, THIS ___ DAY OF
_____.
Minutes taken and prepared by:
Christine Loven, TRMC
City Secretary
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE BRIEFING
Agenda Number 3a Agenda Date 8/15/2023 Number
Type Regular Agenda Items
Department Finance
Title
Discussion of the Fiscal Year September 30, 2023, audit which will be conducted by the
City's audit firm Weaver and Tidwell
Explanation
This item provides for the discussion of the Fiscal Year September 30, 2023, 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 BRIEFING
Agenda Number 3b Agenda Date 8/15/2023 Number
Type Regular Agenda Items
Department Finance
Title
Presentation of the third quarter FY23 investment report
Explanation
Cash and Cash Equivalents (local government investment pools) totaled $50,857,955 at
the end of June 2023. Colleyville’s complete portfolio was valued at $74,598,349, and
was allocated as follows:
Instrument Current as of
6/30/2020
Last Quarter as of
3/31/2023
Cash $ 13,394,790 $ 14,474,772
LOGIC (CP Permissible) $ 2,638,003 $ 2,605,037
Other Governmental Pools $ 34,825,162 $ 34,408,838
CD’s $ 8,274,681 $ 8,531,273
CDARS $ - $ -
Agencies $ 15,465,712 $ 13,965,725
Total Cash & Investments $ 74,598,349 $ 73,985,646
Instrument Yield this quarter
LOGIC (CP Permissible) 5.15 %
Other Governmental Pools 4.9778 %
CD’s 3.00 %
CDARS 0.00 %
Agencies 3.93 %
Total Consolidated Yield 4.58 %
Benchmark Yield: 5.21%
Interest earnings for the quarter were $654,679 compared to $503,530 in the previous
quarter. This is reflective of a more optimistic market, anticipated Federal Reserve
City of Colleyville Page 2
Audit Committee Agenda Briefing 3b
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. June 2023 Presentation
2. Investment Report - June 2023
Quarterly Investment Report
3rd Q, 2023
August 15, 2023
As required by the Public Funds Investment Act, §2256.023
Cash Position Overview
18%
50%
11%
21%
Cash/Sweep Pools CD/CDARS Agencies
13-WkConsolidatedBankPoolsCD'sAgencies0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
RETURN COMPARISON
3/31/2023 6/30/2023
Return Summary
0.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%3/31/2023:
4.13%
6/30/2023:
4.58%
Rate of Return
Return Summary
8-201710-201712-20172-20184-20186-20188-201810-201812-20182-20194-20196-20198-201910-201912-20192-20204-20206-20208-202010-202012-20202-20214-20216-20218-202110-202112-20212-20224-20226-20228-202210-202212-20222-20234-20236-20230.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Pools vs. Benchmark vs. Investment Decisions
Investments Pools 13-Wk
Return Summary
9/1/202012/1/20203/1/20216/1/20219/1/202112/1/20213/1/20226/1/20229/1/202212/1/20223/1/20236/1/20230.00%
0.50%
1.00%
1.50%
2.00%
2.50%
3.00%
3.50%
4.00%
4.50%
5.00%
$ -
$ 100,000
$ 200,000
$ 300,000
$ 400,000
$ 500,000
$ 600,000
$ 700,000
Historical Return
Return Rate Interest Earned7/30/20157/30/20167/30/20177/30/20187/30/20197/30/20207/30/20217/30/2022 -
1.00
2.00
3.00
4.00
5.00
6.00
Influence of Federal Funds Rate on Fixed Income
Market
13-Wk Coupon Fed Funds Rate Avg Pools
Mark-to-Market – What is our portfolio worth?
Shows portfolio value vs. initial
investment
However…
•We hold our investments until maturity
(“buy and hold” strategy)
•Gains and losses shown are unrealized
Valuation
Period
Value at
Purchase
Revised
Value
Total Gain
(loss) on
Purchase
Price
9/30/2022 $ 20,226,953 $ 19,943,146 ($ 283,807)
12/31/2022 $ 19,225,992 $ 18,953,072 ($ 272,920)
3/31/2023 $ 22,496,998 $ 22,301,979 ($195,019)
6/30/2023 $ 23,740,756 $ 23,536,813 ($203,943)9/1/20199/1/20209/1/20219/1/20220.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
$ -
$ 50,000
$ 100,000
$ 150,000
$ (50,000)
$ (100,000)
$ (150,000)
$ (200,000)
$ (250,000)
$ (300,000)
$ (350,000)
MARK TO MARKET VS. MARKET
INCREASES
M2M 13Wk
Questions/Comments
6/1/2023
City of Colleyville, TX
Quarterly Investment Report
Quarterly Investment Report City of Colleyville, TX 6/30/2023
Weighted
3/1/2023 6/1/2023 Change Maturity
Cash 14,474,772$ 13,394,790$ (1,079,982)$ Liquid
Sweep Account -$ -$ -$ Liquid
LOGIC (CP Permiss.)2,605,037$ 2,638,003$ 32,966$ Liquid
Other Gov't Pools 34,408,838$ 34,825,162$ 416,324$ Liquid
Subtotal 51,488,647$ 50,857,955$ (630,693)$
CD's 8,531,273$ 8,274,681$ (256,592)$ 198 days
CDARS -$ -$ -$ 0 days
Agencies 13,965,725$ 15,465,712$ 1,499,988$ 280 days
Subtotal 22,496,998$ 23,740,394$ 1,243,396$ 251 days
Total Resources 73,985,646$ 74,598,349$ 612,703$
Investments on the move…
Criteria
Met?
Policy Max 3/1/2023 6/1/2023
U.S. Treasuries 100%0%0%
U.S. Agencies 75%19%21%
CD's 75%12%11%
Local Gov't Pools 75%50%50%
CDARs 75%0%0%
Tri-Pty Repurchase 75%0%0%
Cash/Sweep N/A 20%18%
Where is Colleyville's cash?
Diversity Snapshot vs. Policy Requirements
0%0%10%SEC Registered, No-
Load Mutual Funds
The third quarter of FY23 showed a slight increase in total resources from March,led by property tax
receipts received by the TIF.More importantly,you can note a continued shift from actual cash
resources to agency investments as cash resources have allowed.In total,the City had more than $1.2m
in CD’s mature with a weighted average maturity of 1.5 years and a low return of 0.86%.These
maturities and other available cash enabled staff to invest almost $2.5m total in four brokered CD’s and
two lucrative U.S.Government-backed agency notes for an average annual return of 5.33%and a
weighted average maturity of a little over 1.7 years.With a total of $9.5 million maturing in calendar
2023,the City will have ample opportunity to reach back out to the market.These moves will continue
to pull the City’s consolidated return closer to our benchmark.
Cash/
Equivalents
Bonds/CDs/Ag
encies
2
Quarterly Investment Report City of Colleyville, TX 6/30/2023
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 coming out of a down-cycle in
terms of returns,until the last year 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 4.58%as of June 30,2023,representing a significant increase
from a consolidated return of 4.13%last quarter.With the Federal Reserve’s continued basis point
increase in its interbank borrowing rate this last year,this will be the fifth quarter our return lags behind
the 13-week treasury rate,as pool rates are still catching up and the City is allowing it’s older,lower
interest-bearing investments to mature.This tends to be a characteristic of a starkly rising rate market
for portfolios that hold their investments to maturity.As of the date of this report,it is not uncommon to
see shorter-term securities (1 -3 years)pushing well beyond 500 basis points.As older and weaker
investments mature,staff will continue to take advantage of higher market rates.Funds dedicated to
capital improvement projects will need to remain readily available while excess operating cash can be
invested in shorter-term instruments with favorably returns.
5.21%
4.58%
5.18%4.99%
3.00%
3.93%
-0.75%
0.25%
1.25%
2.25%
3.25%
4.25%
5.25%
13-Wk T Consolidated
Return
Bank Pools CD's Agencies
Second Quarter, FY23
$-
$200,000
$400,000
$600,000
$800,000
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
Historical Return
Return Rate Interest Earned
3
Quarterly Investment Report City of Colleyville, TX 6/30/2023
3/31/2023 6/30/2022
Thru Thru
6/30/2023 6/30/2023
What have we earned the past three months? For the past year?
As the graph above shows,the City's portfolio makeup has changed substantially over the years.For
one,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.Certificates of Deposit were particularly attractive during the pandemic
years,with agencies also resurging within the last twelve months.While money stored in government
pools isn’t earning as high as our treasury benchmark as of late,it does have the benefit of a decent
return market while also being considered "liquid",as the City can withdraw its funds within 24 hours in
most cases.Regardless,all recent investments that have been placed recently have well outpaced our 13-
week treasury benchmark and mature within 1-2 years.
$654,679; 4.58%$432,221; 3.54%
Current Total Quarterly Average
Compared to the average quarterly return for the past 12 months,the most recent quarter is showing a
significant increase in the rate of return,led by recent maturities andreinvestments placed in the past few
months.As noted,fixed-income rates have climbed amidst the actions from the Federal Reserve and
appear to be sitting well above the 500-basis point range pretty consistently.As noted previously,staff
has been able to capitalize on these higher yields,although the City's liquidity needs to remain relatively
high at this time.Federal agency debt has been particularly attractive as of late.As always,we will need
to balance investments with our robust 5-year capital improvement plan.Staff will always monitor the
market and manage Colleyville's portfolio with emphasis on diversity and cash-flow needs.
How has our portfolio changed over time?
24%16%16%18%
58%
61%60%50%
17%
16%
11%
2%2%5%8%
21%
2021 2022 2023 2024
PORTFOLIO COMPOSITION
Bank Pools CD's CDARS Agencies
4
Quarterly Investment Report City of Colleyville, TX 6/30/2023
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:
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 times since the beginning of the pandemic but inflation and recessionary
fears have prompted the Federal Reserve to drastically increase it,most recently by a quarter of a
percent to between 5%and 5.25%.With inflationary pressures continuing and a potential (mild)
recession coming later in 2023,further rate hikes are decreasing in probability,at least at their previous
levels.Regardless,it is possible for the interbank borrowing rate to reach a height not seen since mid-
2007.
This investment report is in compliance with the Public Funds Investment Act as well as the City of
Colleyville's investment policy and procedures.
-
1.00
2.00
3.00
4.00
5.00
6.00
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 6/30/2023
What has matured in the last 12 months?
Length
Brokered CD (FDIC #32992)244,201$ 4/4/2022 1.51 0.19%686$
Brokered CD (FDIC #26876)249,000$ 4/7/2022 1.00 0.10%248$
Brokered CD (FDIC #845)249,187$ 6/27/2022 1.60 0.20%797$
Brokered CD (NCUA #60269)249,000$ 8/18/2022 2.02 0.30%1,510$
Brokered CD (FDIC #33686)249,000$ 8/26/2022 2.00 0.25%1,245$
Brokered CD (FDIC #17739)240,204$ 8/29/2022 1.91 0.20%919$
Brokered CD (FDIC #33954)256,586$ 10/12/2022 1.81 0.20%927$
Brokered CD (FDIC #4297)256,481$ 10/12/2022 1.81 0.20%926$
Brokered CD (NCUA #17587)247,000$ 10/28/2022 2.00 0.25%1,233$
Brokered CD (FDIC #16022)247,000$ 11/9/2022 2.00 0.20%988$
Brokered CD (FDIC #34953)249,000$ 11/16/2022 2.00 0.20%996$
Brokered CD (FDIC #35141)249,000$ 11/21/2022 2.00 0.20%997$
Brokered CD (FDIC #8120)247,000$ 12/23/2022 2.00 0.20%988$
Brokered CD (NCUA #619)246,000$ 2/13/2023 1.98 0.15%730$
Brokered CD (FDIC #58979)246,000$ 2/21/2023 2.01 0.15%740$
Brokered CD (FDIC #14029)250,000$ 5/15/2023 0.50 4.40%5,485$
Brokered CD (FDIC #19008)249,000$ 3/30/2023 2.00 0.20%996$
Brokered CD (FDIC #57742)249,000$ 3/30/2023 2.00 0.20%996$
Brokered CD (FDIC #57873)249,000$ 3/31/2023 2.00 0.15%747$
Brokered CD (FDIC #628)249,000$ 3/31/2023 1.00 1.00%2,490$
Total Matured 4,970,658$ 0.45%24,645$
APPENDIX
Maturity
DatePurch Price
Yield to
Maturity Total ReturnInvestment
6
Quarterly Investment Report City of Colleyville, TX 6/30/2023
What have we purchased within the last 12 months?
FHLB Note (3130ARLC3)1,000,000$ 4/25/2022 4/25/2024 2.63%52,572$
FHLB Note (3130ARP54)450,000$ 4/29/2022 4/29/2024 2.70%24,333$
FHLB Note (3130ARVT5)1,000,000$ 5/17/2022 5/17/2024 3.00%60,082$
FHLB Note (3130ARV65)515,000$ 5/20/2022 5/17/2024 3.00%30,815$
Brokered CD (FDIC #68722)250,000$ 6/29/2022 6/29/2023 2.95%7,375$
Brokered CD (FDIC #66364)250,000$ 7/13/2022 7/13/2023 3.00%7,500$
FHLB Note (3130ASHY8)500,000$ 7/14/2022 7/14/2023 3.25%16,250$
FHLB Note (3130ATE37)1,500,000$ 9/29/2022 9/29/2023 4.15%62,250$
FHLB Note (3130ATKC0)1,000,000$ 10/3/2022 1/26/2024 4.63%60,822$
FHLB Note (3130ATK63)1,000,000$ 10/3/2022 7/25/2024 4.88%88,284$
Brokered CD (FDIC #32992)249,000$ 10/14/2022 10/14/2024 4.40%21,942$
Brokered CD (FDIC #29546)249,000$ 10/21/2022 10/21/2024 4.40%21,942$
FFCB Note (3133ENV98)500,000$ 11/4/2022 7/26/2023 4.67%16,889$
Brokered CD (FDIC #57512)250,000$ 11/14/2022 5/15/2023 4.40%5,485$
FHLMC Note (3134GX7F5)500,000$ 11/28/2022 5/23/2024 5.15%38,237$
Brokered CD (NCUA #4584)250,000$ 12/16/2022 12/18/2023 5.10%12,820$
Brokered CD (FDIC #61800)248,000$ 12/19/2022 10/19/2023 4.85%10,018$
Brokered CD (NCUA #1040)250,000$ 12/22/2022 12/23/2024 5.20%26,071$
FNMA Note (3135GADK4)1,000,600$ 12/28/2022 12/27/2023 5.00%49,893$
Brokered CD (NCUA #857)250,000$ 2/8/2023 2/8/2024 5.00%12,500$
Brokered CD (FDIC #34395)250,000$ 2/10/2023 8/10/2023 4.70%5,827$
Brokered CD (FDIC #33849)250,000$ 2/10/2023 8/10/2023 4.70%5,827$
FHLB Note (3130AURL0)1,000,000$ 2/13/2023 2/13/2024 4.80%48,000$
FHLB Note (3130AUZ23 1,000,000$ 3/1/2023 3/1/2024 5.25%52,644$
FHLB Note (3130AV3D2)1,000,000$ 3/6/2023 9/6/2024 5.45%82,123$
FHLMC Note (3134GYS52)500,350$ 5/22/2023 5/16/2025 5.35%53,171$
FHLB Note (3130AWAK6)1,000,000$ 5/30/2023 5/28/2025 5.51%110,049$
Brokered CD (FDIC #66399)248,000$ 5/26/2023 7/26/2024 5.15%14,941$
Brokered CD (FDIC #24045)243,000$ 5/19/2023 11/19/2024 5.20%19,041$
Brokered CD (FDIC #26610)237,000$ 5/26/2023 5/24/2024 5.20%12,290$
Brokered CD (FDIC #24923)248,000$ 5/26/2023 11/26/2024 5.15%19,245$
Total Purchased 17,187,950$ 4.45%1,049,239$
Weighted Average Maturity 510 days
APPENDIX
Yield to
MaturityInvestment Total ReturnPurch Price
Purchase
Date
Maturity
Date
7
Quarterly Investment Report City of Colleyville, TX 6/30/2023
Full Investment Listing
Brokered CD (#12858)248,000$ 6/30/2021 6/30/2023 0.150%744$
Brokered CD (#33539)249,000$ 6/30/2021 6/30/2023 0.250%1,245$
Brokered CD (FDIC #33124)250,000$ 7/28/2021 7/28/2023 0.250%1,250$
Brokered CD (NCUA #227)249,000$ 9/29/2021 3/29/2024 0.40%2,489$
Brokered CD (FDIC #34404)249,000$ 9/29/2021 9/29/2023 0.30%1,494$
FHLB Note (3130AQ3X9)2,000,062$ 12/22/2021 12/22/2023 0.75%30,001$
Frost Bank Jumbo CD 1,502,400$ 2/25/2022 2/25/2024 1.51%45,372$
Brokered CD (FDIC #27471)250,000$ 3/2/2022 3/4/2024 1.60%8,033$
Brokered CD (FDIC #32574)250,000$ 3/9/2022 3/6/2024 1.50%7,479$
FHLB Note (3130ARLC3)1,000,000$ 4/25/2022 4/25/2024 2.625%52,572$
FHLB Note (3130ARP54)450,000$ 4/29/2022 4/29/2024 2.70%24,333$
FHLB Note (3130ARVT5)1,000,000$ 5/17/2022 5/17/2024 3.00%60,082$
FHLB Note (3130ARV65)515,000$ 5/20/2022 5/17/2024 3.00%30,815$
Brokered CD (FDIC #68722)250,000$ 6/29/2022 6/29/2023 2.95%7,375$
Brokered CD (FDIC #66364)250,000$ 7/13/2022 7/13/2023 3.00%7,500$
FHLB Note (3130ASHY8)500,000$ 7/14/2022 7/14/2023 3.25%16,250$
Spirit of Texas Jumbo CD 1,555,281$ 9/9/2022 9/9/2023 3.45%53,657$
FHLB Note (3130ATE37)1,500,000$ 9/29/2022 9/29/2023 4.15%62,250$
FHLB Note (3130ATKC0)1,000,000$ 10/3/2022 1/26/2024 4.63%60,822$
FHLB Note (3130ATK63)1,000,000$ 10/3/2022 7/25/2024 4.88%88,284$
Brokered CD (FDIC #32992)249,000$ 10/14/2022 10/14/2024 4.40%21,942$
Brokered CD (FDIC #29546)249,000$ 10/21/2022 10/21/2024 4.40%21,942$
FFCB Note (3133ENV98)500,000$ 11/4/2022 7/26/2023 4.67%16,889$
FHLMC Note (3134GX7F5)500,000$ 11/28/2022 5/23/2024 5.15%38,237$
Brokered CD (NCUA #4584)250,000$ 12/16/2022 12/18/2023 5.10%12,820$
Brokered CD (FDIC #61800)248,000$ 12/19/2022 10/19/2023 4.85%10,018$
Brokered CD (NCUA #1040)250,000$ 12/22/2022 12/23/2024 5.20%26,071$
FNMA Note (3135GADK4)1,000,300$ 12/28/2022 12/27/2023 5.00%49,878$
Brokered CD (NCUA #857)250,000$ 2/8/2023 2/8/2024 5.00%12,500$
Brokered CD (FDIC #34395)250,000$ 2/10/2023 8/10/2023 4.70%5,827$
Brokered CD (FDIC #33849)250,000$ 2/10/2023 8/10/2023 4.70%5,827$
FHLB Note (3130AURL0)1,000,000$ 2/13/2023 2/13/2024 4.80%48,000$
FHLB Note (3130AUZ23 1,000,000$ 3/1/2023 3/1/2024 5.25%52,644$
FHLB Note (3130AV3D2)1,000,000$ 3/6/2023 9/6/2024 5.45%82,123$
FHLMC Note (3134GYS52)500,350$ 5/22/2023 5/16/2025 5.35%53,171$
FHLB Note (3130AWAK6)1,000,000$ 5/30/2023 5/28/2025 5.51%110,049$
Brokered CD (FDIC #66399)248,000$ 5/26/2023 7/26/2024 5.15%14,941$
Brokered CD (FDIC #24045)243,000$ 5/19/2023 11/19/2024 5.200%19,041$
Brokered CD (FDIC #26610)237,000$ 5/26/2023 5/24/2024 5.200%12,290$
Total Return
Purchase
Date
Yield to
MaturityInvestmentPurch Price
Maturity
Date
APPENDIX
8
Quarterly Investment Report City of Colleyville, TX 6/30/2023
Full Investment Listing (Continued)
Brokered CD (FDIC #24923)248,000$ 5/26/2023 11/26/2024 5.150%19,245$
Total 23,740,394$ 3.61%1,195,503$
Weighted Average Maturity 251 days
APPENDIX
Investment
Yield to
Maturity Total ReturnPar Amount
Purchase
Date
Maturity
Date
9
Quarterly Investment Report City of Colleyville, TX 6/30/2023
Mark-to-Market
12/31/2022 3/31/2023
Market Value Market Value
3 Brokered CD's *Matures June 2023 747,000$ 739,786$ 744,532$ (2,468)$
Brokered CD (FDIC #33124)250,000$ 246,113$ 249,038$ (962)$
Brokered CD (NCUA #227)249,000$ 237,621$ 239,986$ (9,014)$
Brokered CD (FDIC #34404)249,000$ 243,193$ 245,892$ (3,108)$
FHLB Note (3130AQ3X9)2,000,125$ 1,940,991$ 1,954,821$ (45,304)$
Frost Bank Jumbo CD 1,502,400$ 1,502,400$ 1,502,400$ -$
Brokered CD (FDIC #27471)250,000$ 242,050$ 243,805$ (6,195)$
Brokered CD (FDIC #32574)250,000$ 241,733$ 243,536$ (6,464)$
FHLB Note (3130ARLC3)1,000,000$ 977,390$ 976,320$ (23,680)$
FHLB Note (3130ARP54)450,000$ 440,091$ 439,488$ (10,512)$
FHLB Note (3130ARVT5)1,000,000$ 980,680$ 977,940$ (22,060)$
FHLB Note (3130ARV65)515,000$ 504,937$ 503,634$ (11,366)$
Brokered CD (FDIC #66364)250,000$ 248,563$ 249,803$ (198)$
FHLB Note (3130ASHY8)500,000$ 497,339$ 499,627$ (373)$
Spirit of Texas Jumbo CD 1,555,281$ 1,541,873$ 1,555,281$ -$
FHLB Note (3130ATE37)1,500,000$ 1,492,605$ 1,494,930$ (5,070)$
FHLB Note (3130ATKC0)1,000,000$ 995,780$ 993,960$ (6,040)$
FHLB Note (3130ATK63)1,000,000$ 996,100$ 991,550$ (8,450)$
Brokered CD (FDIC #32992)249,000$ 246,714$ 245,728$ (3,272)$
Brokered CD (FDIC #29546)249,000$ 246,702$ 245,671$ (3,329)$
FFCB Note (3133ENV98)500,000$ 499,190$ 499,755$ (245)$
FHLMC Note (3134GX7F5)500,000$ 498,870$ 496,650$ (3,350)$
Brokered CD (NCUA #4584)250,000$ 249,933$ 249,770$ (230)$
Brokered CD (FDIC #61800)248,000$ 247,720$ 247,665$ (335)$
Brokered CD (NCUA #1040)250,000$ 250,475$ 249,108$ (893)$
FNMA Note (3135GADK4)1,000,600$ 998,061$ 997,171$ (3,429)$
Brokered CD (NCUA #857)250,000$ 249,728$ 249,520$ (480)$
Brokered CD (FDIC #34395)250,000$ 249,675$ 249,822$ (178)$
Brokered CD (FDIC #33849)250,000$ 249,675$ 249,822$ (178)$
FHLB Note (3130AURL0)1,000,000$ 1,000,790$ 995,780$ (4,220)$
FHLB Note (3130AUZ23)1,000,000$ 1,000,470$ 996,750$ (3,250)$
FHLB Note (3130AV3D2)1,000,000$ 1,002,160$ 994,450$ (5,550)$
FHLMC Note (3134GYS52)500,350$ N/A 496,215$ (4,135)$
FHLB Note (3130AWAK6)1,000,000$ N/A 993,650$ (6,350)$
Brokered CD (FDIC #66399)248,000$ N/A 247,154$ (846)$
Brokered CD (FDIC #24045)243,000$ N/A 242,150$ (851)$
Brokered CD (FDIC #26610)237,000$ N/A 236,467$ (533)$
Brokered CD (FDIC #24923)248,000$ N/A 246,971$ (1,029)$
Total 23,740,756$ 21,059,408$ 23,536,813$ (203,943)$
Initial Value
APPENDIX
Unrealized
Gain/(Loss) since
PurchaseInvestment
10
Quarterly Investment Report City of Colleyville, TX 6/30/2023
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
11