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03/16/2021 04C Investment Transactions Report February 2021 ti i..asxntntj kd 1.,41 *ae.. x°'naa.x,,4n BUSINESS OF THE CITY COUNCIL YAKIMA, WASHINGTON AGENDA STATEMENT Item No. 4.C. For Meeting of: March 16, 2021 ITEM TITLE: February 2021 I nvestment Transactions Report SUBMITTED BY: Steve Groom, Director of Finance and Budget SUMMARY EXPLANATION: 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 Monthly In trr�ent Transaction p art / 1 0 1 r Mer�c 2 FINANCE DATE: March 1 , 2021 TO: Mayor and City Council FROM: Steve Groom, Finance Director RE: February 2021 Investment Transactions The investment transactions for February 2021 were: Matured: • None Called: • None Purchased: • None The focus of investments now is to fill maturity gaps in a shortened (3-year maturity horizon) ladder to minimize reinvestment risk subject to rates at any one point in time and hedging against further decreasing rate exposure. Options considered. During the current market volatility, the range of investment options for 1- to 3- year maturities during February fluctuated slightly, as the Treasury yield curve ranged between 0.06% to 0.34%. The 3-year area of the yield curve hovered between 0.17% and 0.24% then rose 10 basis points only in the last 2 days of the month. Treasuries and agencies that benchmark their yield off Treasuries are the city's primary investments outside the State Treasurers' Local Government Investment Pool. CDs range from 0.05% to 0.15%. The LGIP has an average weighted maturity of about 45 days, and its yield was 0.12307% at 2/28. 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').