HomeMy WebLinkAbout11/17/2020 04D October 2020 Investment Transactions Report 't..an,gtntj ka
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BUSINESS OF THE CITY COUNCIL
YAKIMA, WASHINGTON
AGENDA STATEMENT
Item No. 4.D.
For Meeting of: November 17, 2020
ITEM TITLE: October 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
Investment 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"
A complete Treasury report is provided to City Council quarterly that provides a complete
position listing with further analysis, economic outlook and strategy updates.
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
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FINANCE
DATE: November 3, 2020
TO: Mayor and City Council
FROM: Steve Groom, Finance Director
RE: October 2020 Investment Transactions
The investment transactions for October 2020 were:
Matured:
• $2,122,000 RFCSP October 15, 2020
Called
• $1 ,000,000 FHLMC October 28, 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 $8,385,000 in convention center expansion
bond proceeds
During the current market volatility, the range of investment options for 1-to 3- year maturities
during October fluctuated slightly, between 0.12% to 0.21%. The LGIP has an average weighted
maturity of about 44 days, so its yield (0.1809% at 10/31) has continued to fall to about that
range, however there continues to be no 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').