HomeMy WebLinkAboutAudit Committee-Agenda Packets-8/20/2024City 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 20, 2024 - 4:30 PM
1.CALL TO ORDER
2.APPROVAL OF MINUTES
2a June 18, 2024
3.REGULAR AGENDA ITEMS
3a Discussion of the Fiscal Year September 30, 2024, audit which will be
conducted by the City's audit firm Weaver
3b Presentation of the third quarter FY24 investment report
4.ADJOURNMENT
I hereby certify this agenda was posted on City Hall bulletin boards Friday, August 16,
2024 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
100 Main Street, Colleyville, Texas, 76034
City Manager's Conference Room - Third Floor
TUESDAY, JUNE 18, 2024 - 3:30 PM
1. CALL TO ORDER
City Secretary Christine Loven called the meeting to order at 3:00 p.m. and called
the roll.
PRESENT: Committee members Brandi Elder and Scotty Richardson.
ALSO PRESENT: Councilmembers Mark Alphonso, Ben Graves, and Kimberly Holt
Gunderson, Finance Director Matt Poston, Accounting Manager Karen Hines, City
Manager Jerry Ducay, Assistant City Manager Mark Wood, and City Secretary
Christine Loven.
2. APPROVAL OF MINUTES
February 20, 2024
The February 20, 2024 minutes were approved.
3. REGULAR AGENDA ITEMS
3a Approval of the City of Colleyville Investment Policy annual review and
recommended changes
Finance Director Matt Poston stated the Investment Policy is in accordance with
Chapter 2256 of the Texas Government Code – Public Funds Investment Act. The
policy objectives are to preserve capital, maintain sufficient liquidity to meet cash
flow needs, and optimize earnings within constraints of capital preservation and
liquidity.
Director Poston stated the current investment policy was adequate, but the
proposed updated policy provides for modernization and refinement, and is a
policy which must be approved annually by the City Council. While highlighting the
proposed changes, Director Poston reviewed the authorized investments, roles and
responsibility of the designated investment officers, and the monitoring and
reporting requirements.
There was discussion of the City’s investments, current rates and trends, and
liquidity.
City of Colleyville Page 2
Audit Committee Minutes June 18, 2024
3b Presentation of the second quarter FY24 investment report
Finance Director Matt Poston provided an overview of the report, reiterated the
investment strategies and objectives, and explained the portfolio performance and
investment distribution.
There was general discussion regarding CD renewal and rate structures.
4. ADJOURNMENT
The meeting adjourned at 4:02 p.m.
PASSED BY A VOTE OF _ AYES, _ NAYS, THIS THE 20TH DAY OF AUGUST 2024.
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 8/20/2024 Number
Type Regular Agenda Items
Department Finance
Title
Discussion of the Fiscal Year September 30, 2024, audit which will be conducted by the
City's audit firm Weaver
Explanation
This item provides for the discussion of the Fiscal Year September 30, 2024, audit which
will be conducted by the City's audit firm Weaver.
Attachments
City of Colleyville Page 1
CITY OF COLLEYVILLE
AUDIT COMMITTEE BRIEFING
Agenda Number 3b Agenda Date 8/20/2024 Number
Type Regular Agenda Items
Department Finance
Title
Presentation of the third quarter FY24 investment report
Explanation
Finance Director Matt Poston will present the Quarterly Investment Report.
Attachments
1. June 2024 Quarterly Investment Report Presentation
2. Quarterly Investment Report - June 2024
Quarterly Investment Report
Highlights
June 30, 2024
Audit Committee
August 20, 2024
1
•Overview of the Report
–Compliance with the City’s investment policy and the Texas Public Funds
Investment Act (PFIA)
•Investment Strategies and objectives
1)Preserve capital
2)Provide Liquidity
3)Optimize earnings within constraints of 1) and 2)
2
Introduction
CD, $ 8.13
FHLB , $ 6.75
FHLMC, $ 1.75
Cash, $ 16.08
LGIP, $ 43.86
3
Portfolio Composition
Total Value:
$76.6 Million
Legend:
•LGIP – Local Government
Investment Pool
•CD – Certificate of Deposit
•FHLB – Federal Home Loan Bank
•FHLMC – Federal Home Loan
Mortgage Corporation
* - Figures are in millions and as of June 30, 2024
4
Portfolio Performance
•Weighted Average Maturity: 1.40 months
•Weighted Average Yield: 5.21%Yield (%)June-23 September-23 December-23 March-24 June-24
4.00%
4.50%
5.00%
5.50%
6.00%
Quarterly Portfolio Yield Analysis
Portfolio Yield 13-week Treasury Bill Yield
5
Investment Distribution
Maturity Period (months)ValueMillions0-3 3-6 6-9 9-12 12-15 15-18 18-24 24-36 36-48 48-60 >=60
$ -
$ 0.50
$ 1.00
$ 1.50
$ 2.00
$ 2.50
$ 3.00
$ 3.50
$ 4.00
$ 4.50
$ 5.00
$ 4.04
$ 4.41
$ 3.71
$ 3.22
$ 1.00
$ 0.24
$ -$ -$ -$ -$ -
Investment Maturities by Quarter as of June 30, 2024
•Compliance with Policy Limits:
–LGIPs: 57.3% (below 75% limit)
–Agency Securities: 11.1% (below 75% limit)
–CDs: 10.6% (below 75% limit)
•Investment Strategy:
–Laddered structure for reduced volatility and maintained liquidity
–Continue transition from brokered CDs to placement with local banks
and other programs
6
Compliance & Strategy
•Certificates of Deposit:
–Recent CD investment have been yielding us return in the low 5% range
•Governmental Agencies:
–Holdings diversified in FHLB and FHLMC yielding us return in the low 5%
range
•Cash and Cash Equivalents
–Frost Bank – City’s primary depository
•Earnings credit rate of 5.40%
–Local Government Investment Pools
•TexPool – 5.31%
•Lone Star – 5.31%
•Texas Class – 5.25%
•Logic1 – 5.41%
1- Logic is the only approved pool that invests in commercial paper, limited per policy to 5% of total LGIP investment
7
Highlights of Specific Investments
TexPool, $ 22.11, 50%
Lone Star, $ 13.10, 30%
Texas Class, $ 6.85, 16%
Logic*, $ 1.80, 4%
8
Local Government Investment Pools
(LGIP)
*- Logic is the only approved pool that invests in commercial paper, limited per policy to 5% of total LGIP investment
•Summary
–Strong compliance and strategic investment
–Stable and optimized portfolio performance
•Next Step:
–Continued monitoring and adjustment to maintain compliance and
optimize returns
–Continue to build out our laddered investment strategy
–We will be back in a few months with the September 2024 quarterly
report
9
Conclusion
QUESTIONS & DISCUSSION
10
MEMO
TO: City Council
THRU: Audit Committee
FROM: Investment Committee:
Mark Wood, Assistant City Manager
Matthew Poston, Director of Finance
Karen Hines, Accounting Manager
DATE: May 23, 2024
RE: June 30, 2024 Quarterly Investment Report
On June 30, 2024, the City of Colleyville was in compliance with its investment policy and
the Public Funds Investment Act. Specifically, the City only purchases securities from
brokers who have reviewed the investment policy and signed a statement agreeing to
comply with it. The weighted average maturity of the portfolio is approximately 1.40
months, which is well below the 12-month maximum weighted average maturity stipulated
in our investment policy. The maturity dates of the City’s investments will meet the
anticipated cash flow needs of the City.
The overall weighted average portfolio yield is 5.21%, which is competitive in the current
market. The chart below shows a comparison to the previous four quarters along with an
analysis of the portfolio yield versus the rolling 13-week Treasury note.
Treasury yields can fluctuate at a much higher rate than the portfolio. Our portfolio is
designed to hold value. Our laddered strategy will always lag the market. In periods of
declining rates, our returns will be greater than the market. Conversely, in periods of
4.00%
4.50%
5.00%
5.50%
6.00%
June‐23 September‐23 December‐23 March‐24 June‐24Yield (%)Quarterly Portfolio Yield Analysis
Portfolio Yield 13‐week Treasury Bill Yield
Quarterly Investment Report – June 2024
2
increasing rates, our return will lag relative to the market. In a rising interest rate
environment, the market value of the portfolio should decrease.
Our stated objective in the investment policy is to optimize earnings within the constraints
of preserving capital and maintaining liquidity. The portfolio investments are typically held
until maturity. The laddered structure of the portfolio reduces volatility while providing
liquidity. The portfolio market value remains extremely consistent at 99.94%.
The City invests in:
- Certificates of deposit (CDs)
- Governmental agencies
- Local government investment pools
- Cash at the City’s authorized depositories
A summary of the portfolio is attached, reflecting a total portfolio, including cash and
investments, of $76,567,792.
Certificates of deposit are currently a good option to lock in interest rates while they are
high. The City utilizes various brokers to place new investments, including brokered CDs
that allow us to use multiple banks and keep under the $250,000 FDIC insurance limit.
Currently, the City is receiving approximately 5.25% on a new 52-week CD, 5.25% on a
new 39-week CD, and 5.15% on a 26-week CD investment. On June 30, 2024, the City
had $8.1 million in CD investments. Governmental Agency securities are also a good
option and offer comparable interest rates to CDs. The portfolio currently holds $8.5
million in agencies, with holdings in Federal Home Loan Bank securities making up $6.75
million and Federal Home Loan Mortgage Corporation securities the remaining $1.75
million.
The City has cash invested at the City depository, Frost, totaling $16.1 million. The City
earns an earnings service credit with Frost of 5.40%.
The City has investments in local government investment pools (LGIP) totaling $43.9
million. The City uses only AAA-rated Texas LGIPs as authorized by the PFIA. The City
participates in four different pools. On June 30, 2024, the City held $22.1 million in
TexPool, $13.1 million in Lone Star, $6.9 million in Texas Class, and $1.8 million in Logic.
The investment policy allows investment in LGIPs that invest in commercial paper up to a
limit of 5% of total pool investments. Currently, the only pool with commercial paper is
Logic, which made up 4.1% of pool investments on June 30, 2024, under the 5% limit.
The portfolio is well balanced between cash and investment securities and diversified
between certificates of deposits and agencies. Local government investment pools
comprise 57.3% of the total portfolio, below the 75% limit. Agency securities represent
11.1% of the total portfolio, and certificates of deposit represent 10.6%, both below the
75% limit.
Quarterly Investment Report – June 2024
3
No securities have a maturity date longer than five years, in accordance with our investment
policy. Cash balances, including LGIP, make up approximately 78.3% of the portfolio.
Other short-term instruments are funds invested in certificates of deposit, comprising
approximately 10.6% of the portfolio, ranging in maturity from 6 to 24 months upon
issuance.
The portfolio is well-positioned, with a heavier weighting in the three to six-month
maturity area. In an increasing rate environment, many of these funds will be available to
reinvest at higher rates. Below is a graph of the investment maturities by quarter.
CD, $8.13
FHLB , $6.75
FHLMC, $1.75
Cash, $16.08 LGIP, $43.86
Portfolio Composition as of June 30, 2024 (in millions)
$4.04
$4.41
$3.71
$3.22
$1.00
$0.24
$‐$‐$‐$‐$‐
$‐
$0.50
$1.00
$1.50
$2.00
$2.50
$3.00
$3.50
$4.00
$4.50
$5.00
0‐33‐66‐99‐12 12‐15 15‐18 18‐24 24‐36 36‐48 48‐60 >=60ValueMillions
Maturity Period (months)
Investment Maturities by Quarter as of June 30, 2024
Quarterly Investment Report – June 2024
4
Also attached for your review is the June 30, 2024, quarterly investment report. The format
of this report is defined by the Public Funds Investment Act (PFIA) and shows the portfolio
investments by fund for the quarter ending June 30, 2024. If you have any questions or
would like to receive additional information regarding the City’s investments, please let us
know.
_________________________________
Mark Wood, Assistant City Manager
_________________________________
Matthew Poston, Director of Finance
_____________________________________
Karen Hines, Accounting Manager
City of Colleyville
Investment Holding Report
For the Quarter Ended June 30, 2024
Security Description
Coupon
Rate
Maturity
Date
Purchase
Date Ending Market Value Ending Amort Value
Cash ‐ Frost 5.40% 6/30/2024 6/30/2024 16,084,841$ 16,084,841$
TexPool LGIP 5.31% 6/30/2024 6/30/2024 22,110,609 22,110,609
Lone Star LGIP 5.31% 6/30/2024 6/30/2024 13,097,164 13,097,164
Texas Class LGIP 5.25% 6/30/2024 6/30/2024 6,852,972 6,852,972
LOGIC LGIP1 5.41% 6/30/2024 6/30/2024 1,795,701 1,795,701
Total Cash and Cash Equivalents 59,941,287 59,941,287
CD 4.40 10/11/2024 4.40% 10/11/2024 10/14/2022 248,300 249,000
CD 4.40 10/21/2024 4.40% 10/21/2024 10/21/2022 248,238 249,000
CD 5.00 02/10/2025 5.00% 2/10/2025 2/9/2024 247,392 248,000
CD 5.00 09/16/2024 5.00% 9/16/2024 3/15/2024 247,745 248,000
CD 5.00 11/12/2024 5.00% 11/12/2024 2/12/2024 237,576 238,000
CD 5.00 11/18/2024 5.00% 11/18/2024 2/16/2024 239,561 240,000
CD 5.10 08/23/2024 5.10% 8/23/2024 5/25/2024 1,567,487 1,567,487
CD 5.10 11/24/2025 5.10% 11/24/2025 5/24/2024 242,959 243,000
CD 5.15 01/09/2025 5.15% 1/9/2025 4/9/2024 236,694 237,000
CD 5.15 03/07/2025 5.15% 3/7/2025 3/8/2024 247,658 248,000
CD 5.15 05/09/2025 5.15% 5/9/2025 5/9/2024 236,775 237,000
CD 5.15 07/26/2024 5.15% 7/26/2024 5/26/2023 247,963 248,000
CD 5.15 11/26/2024 5.15% 11/26/2024 5/26/2023 247,782 248,000
CD 5.15 11/29/2024 5.15% 11/29/2024 2/29/2024 239,693 240,000
CD 5.15 11/29/2024 5.15% 11/29/2024 2/29/2024 239,693 240,000
CD 5.15 12/05/2024 5.15% 12/5/2024 3/5/2024 236,692 237,000
CD 5.20 09/12/2024 5.20% 9/12/2024 9/12/2023 728,018 728,018
CD 5.20 11/19/2024 5.20% 11/19/2024 5/19/2023 242,684 243,000
CD 5.20 12/09/2024 5.20% 12/9/2024 3/7/2024 239,736 240,000
CD 5.20 12/20/2024 5.20% 12/20/2024 3/20/2024 239,738 240,000
CD 5.25 02/18/2025 5.25% 2/18/2025 5/17/2024 236,893 237,000
CD 5.25 05/13/2025 5.25% 5/13/2025 5/13/2024 247,980 248,000
CD 5.25 05/21/2025 5.25% 5/21/2025 5/21/2024 237,002 237,000
CD 5.30 02/24/2025 5.30% 2/24/2025 5/24/2024 239,986 240,000
CD 5.60 10/18/2024 5.60% 10/18/2024 10/19/2023 248,000 248,000
CD 5.75 09/13/2024 5.75% 9/13/2024 9/13/2023 248,060 248,000
FHLB 1.00 09/18/2024 1.00% 11/8/2024 4/3/2024 1,475,220 1,500,000
FHLB 4.88 09/13/2024 4.88% 7/25/2024 10/25/2022 999,530 1,000,000
FHLB 5.00 09/17/2024 5.00% 7/29/2025 1/29/2024 995,310 1,000,000
FHLB 5.02 09/14/2024 5.02% 2/19/2025 2/15/2024 1,246,950 1,250,000
FHLB 5.37 09/16/2024 5.37% 5/20/2025 5/20/2024 999,540 1,000,000
FHLB 5.4 09/15/2024 5.40% 5/15/2025 4/19/2024 997,750 1,000,000
FHLMC 5.13 09/19/2024 5.13% 1/27/2025 2/28/2024 1,248,400 1,250,000
FHLMC 5.35 09/20/2024 5.35% 5/16/2025 5/16/2023 498,795 500,000
Investment Total 16,581,800 16,626,506
Total Portfolio 76,523,087$ 76,567,792$
99.94%
1 ‐ LOGIC is invested in commercial paper.
City of ColleyvilleInvestment TransactionsFor the Quarter Ending June 30, 2024Approved Investment Policy 6/18/2024Market Value* Balance Change in Balance Market Value* Accrued InterestFund Fund Description March 31, 2024 March 31, 2024 Acquisitions Maturities Cash June 30, 2024 June 30, 2024 June 30, 2024001 GENERAL FUND15,550,665$ 15,566,186$ 3,458,414$ (3,214,000)$ 2,083,421$ 17,894,022$ 17,878,759$ 151,712$ 002 UTILITY FUND7,236,106 7,239,228 240,000 (487,000) 2,041,915 9,034,143 9,030,881 16,248 003 CAPITAL PROJECTS9,404,005 9,406,433 ‐ ‐ (1,392,325) 8,014,108 8,012,646 840 005 VOLUNTARY PARK FUND1,104,159 1,104,159 ‐ ‐ 14,677 1,118,836 1,118,836 ‐ 006 SESQUICENTENNIAL FUND3,589 3,589 ‐ ‐ 48 3,636 3,636 ‐ 011 VOLUNTARY LIBRARY FUND534,691 534,691 ‐ ‐ 7,107 541,798 541,798 ‐ 012 PARK LAND DEDICATION FUND652,603 652,603 ‐ ‐ 8,675 661,278 661,278 ‐ 015 POLICE ASSET FORFEITURE FUND9,928 9,928 ‐ ‐ 132 10,060 10,060 ‐ 017 DRAINAGE FEE FUND723,723 723,723 ‐ ‐ 9,510 733,232 733,232 ‐ 018 TREE PRESERVATION FUND274,110 274,110 ‐ ‐ 3,644 277,753 277,753 ‐ 024 C'VILLE ECONOMIC DEVELOPMENT4,689,062 4,689,047 1,500,000 (1,500,000) 548,056 5,237,103 5,212,323 2,167 026 TIF FUND1,063,326 1,063,326 ‐ ‐ 14,134 1,077,460 1,077,460 ‐ 027 CRIME DISTRICT FUND1,587,310 1,587,312 ‐ (500,000) 821,178 1,908,490 1,908,490 419 029 COURT TECHNOLOGY FEE FUND9,847 9,847 ‐ ‐ (9,847) ‐ ‐ ‐ 032 VEHICLE/EQUIP REPLACEMENT FUND1,633,244 1,633,244 ‐ ‐ (940,922) 692,322 692,322 ‐ 033 PUBLIC ART FUND6,576 6,576 ‐ ‐ 87 6,664 6,664 ‐ 035 PARKS TOMORROW FUND948,588 948,588 ‐ ‐ 12,255 960,843 960,843 ‐ 036 STRATEGIC INCENTIVE FUND548,110 548,110 ‐ ‐ 7,081 555,191 555,191 ‐ 039 UTILITY‐CAPITAL PROJECTS FUND12,053,432 12,053,117 9,393 ‐ (1,677,921) 10,384,589 10,384,649 12,488 041 DRAINAGE‐CAPITAL PROJECTS FUND1,353,505 1,353,505 ‐ ‐ 17,919 1,371,424 1,371,424 ‐ 59,386,579$ 59,407,321$ 5,207,808$ (5,701,000)$ 1,568,823$ 60,482,951$ 60,438,246$ 183,874$ * Market Valule provided by an independent third-party pricing agency.
City of Colleyville Investment Listing
June 30, 2024
Security Name
CUSIP/Accou
nt Fund
Broker/Ba
nk Type Purchase Mature Rate Par Market Acc Int
American Eagle Bank 02554BEV9 001 MBS BCD 3/15/2024 9/16/2024 5.000% 248,000.00 247,744.56 509.59
Hinsdale Bank & Trust 433411DES 001 MBS BCD 2/29/2024 11/29/2024 5.150% 240,000.00 239,692.80 4,131.29
Lake Forest Bank & Trust 509685FU2 001 MBS BCD 2/29/2024 11/29/2024 5.150% 240,000.00 239,692.80 4,131.29
Intercity State Bank 45847PAD8 001 MBS BCD 3/5/2024 12/5/2024 5.150% 237,000.00 236,691.90 3,912.45
Bank United National Assoc 066519WX3 001 MBS BCD 3/7/2024 12/9/2024 5.200% 240,000.00 239,736.00 3,932.05
Crossfirst Bank 22766APU3 001 MBS BCD 3/20/2024 12/20/2024 5.200% 240,000.00 239,738.40 3,487.56
Valley National Bank 919853LD1 001 MBS BCD 4/9/2024 1/9/2025 5.150% 237,000.00 236,694.27 2,742.06
Santander Bank 80280JXP1 001 MBS BCD 5/17/2024 2/18/2025 5.250% 237,000.00 236,893.35 1,499.92
Cornerstone Community CU 21923LAP8 001 MBS BCD 3/8/2024 3/7/2025 5.150% 248,000.00 247,657.76 769.82
Bank of America 06051XDJ8 001 MBS BCD 5/9/2024 5/9/2025 5.150% 237,000.00 236,774.85 1,738.87
Bethpage Federal Credit Union 08756MAA8 001 MBS BCD 5/13/2024 5/13/2025 5.250% 248,000.00 247,980.16 1,034.47
Wells Fargo 949764NQ3 001 MBS BCD 5/21/2024 5/21/2025 5.250% 237,000.00 237,002.37 1,363.56
Bank of New York Melon 05584CNT9 001 MBS BCD 5/24/2024 11/24/2025 5.100% 243,000.00 242,958.69 1,256.28
Harborstone CU 41166MAG0 002 MBS BCD 5/26/2023 7/26/2024 5.150% 248,000.00 247,962.80 139.97
Western Alliance Bank 95763PRW3 002 MBS BCD 2/12/2024 11/12/2024 5.000% 238,000.00 237,576.36 4,531.78
Dime Community Bank 25432JDN0 002 MBS BCD 2/16/2024 11/18/2024 5.000% 240,000.00 239,560.80 4,438.36
Pacific Western Bank 69506YZM4 002 MBS BCD 5/19/2023 11/19/2024 5.200% 243,000.00 242,684.10 1,454.01
Workers Federal CU 98138MBW9 002 MBS BCD 5/26/2023 11/26/2024 5.150% 248,000.00 247,781.76 139.97
Technology CU 87868YAU7 002 MBS BCD 2/9/2024 2/10/2025 5.000% 248,000.00 247,392.40 985.21
Schaumburg Bank & Trust 806344AN7 002 MBS BCD 5/24/2024 2/24/2025 5.300% 240,000.00 239,985.60 1,289.42
Morgan Stanley Bank 61773TKZ5 003 MBS BCD 10/14/2022 10/11/2024 4.400% 249,000.00 248,300.31 570.31
Great Southern Bank 39120VTC8 003 MBS BCD 10/21/2022 10/21/2024 4.400% 249,000.00 248,238.06 270.15
Truestone Finl CU 89841MAS6 027 MBS BCD 10/19/2023 10/18/2024 5.600% 248,000.00 248,000.00 418.54
Blupeak CU 09644EAK8 039 MBS BCD 9/13/2023 9/13/2024 5.750% 248,000.00 248,059.52 664.16
Frost Bank CD Frost 001 Frost CD 5/25/2024 8/23/2024 5.100% 1,567,487.32 1,567,487.32 7,884.68
Simmons Bank CD Simmons 039 Simmons CD 9/12/2023 9/12/2024 5.200% 728,018.33 728,018.33 11,823.82
FHLB 4.875 7/25/2024 3130ATK63 001 RJ FHLB 10/25/2022 7/25/2024 4.875% 1,000,000.00 999,530.00 20,989.58
FHLB 5.015 2/19/2025 3130AYML7 001 RJ FHLB 2/15/2024 2/19/2025 5.015% 1,250,000.00 1,246,950.00 27,512.84
FHLB 5.400 5/15/2025 3130B0ZQ5 001 RJ FHLB 4/19/2024 5/15/2025 5.400% 1,000,000.00 997,750.00 10,650.00
FHLB 5.370 5/20/2025 3130B1G92 001 RJ FHLB 5/20/2024 5/20/2025 5.370% 1,000,000.00 999,540.00 5,966.66
FHLB 5.000 7/29/2025 3130AYPP5 001 RJ FHLB 1/29/2024 7/29/2025 5.000% 1,000,000.00 995,310.00 20,972.22
FHLB 1.000 11/08/2024 3130APQ81 024 RJ FHLB 4/3/2024 11/8/2024 1.000% 1,500,000.00 1,475,220.00 2,166.66
FHLMC 5.125 1/27/2025 3134GYFG2 001 RJ FHLMC 2/28/2024 1/27/2025 5.125% 1,250,000.00 1,248,400.00 27,226.56
FHLMC 5.350 5/16/2025 3134GYS52 002 MBS FHLMC 5/16/2023 5/16/2025 5.350% 500,000.00 498,795.00 3,269.44
16,626,505.65 16,581,800.27 183,873.54
Brokered Certificate of Deposit BCD 5,831,000.00 5,824,799.62 45,411.09
Certificate of Deposit CD 2,295,505.65 2,295,505.65 19,708.49
Federal Home Loan Bank FHLB 6,750,000.00 6,714,300.00 88,257.96
Federal Home Loan Mortgage Corporation FHLMC 1,750,000.00 1,747,195.00 30,496.00
Securities 16,626,505.65 16,581,800.27 183,873.54
Cash 5.400% 16,084,841.00 16,084,841.00
LGIP 5.307% 43,856,445.67 43,856,445.67
Total Portfolio 76,567,792.32 76,523,086.94