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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 4.C.
For Meeting of: September 15, 2020
ITEM TITLE: August 2020 Investment Transactions Report
SUBMITTED BY: Steve Groom, Director of Finance and Budget
SUMMARY EXPLANATION:
Monthly report of all investment transactions. Each investment is in full compliance with the City's
I nvestment Policy, State Statues and City Municipal Code. This monthly report is in compliance
with RCW 35.39.032 which requires "The responsible official or committee shall make a
monthly report of all investment transactions to the city legislative authority" More
comprehensive Quarterly Treasury Reports that provide a complete position listing with further
analysis, economic outlook and strategy updates are provided to City Council and posted on the
city's website.
ITEM BUDGETED: NA
STRATEGIC PRIORITY: Public Trust and Accountability
APPROVED FOR SUBMITTAL BY THE CITY MANAGER
RECOMMENDATION:
Review only. Submitted for routine transparency and accountability.
ATTACHMENTS:
Description Upload Date Type
In stment Transactions report 9/3/2020 x Kati um ma
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FINANCE
DATE: September 3, 2020
TO: Mayor and City Council
FROM: Steve Groom, Finance Director
RE: August 2020 Investment Transactions
The investment transactions for August 2020 were:
Matured:
• $1 ,000,000 FHLB August 25, 2020
Called
• $1 ,000,000 FHLMC August 26, 2020
Purchased:
• None — all proceeds transferred to the City's Account on deposit with the State
Treasurer's Local Government Investment Pool (LGIP)
Noteworthy:
• LGIP balance currently includes $9,472,000 in convention center expansion
bond proceeds
During the current market volatility, the range of investment options for 1-to 5- year maturities
during August fluctuated slightly, between 0.19% to 0.32%. The LGIP has an average weighted
maturity of about 44 days, so its yield (0.2484%at 8/31) will continue to fall to about that range,
however there is no current advantage to purchasing an investment with lower yield "locking in"
low rates.
This monthly report of all investment transactions complies with RCW 35.39.032 ("The
responsible official or committee shall make a monthly report of all investment transactions to the
city legislative authority').