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Finance update: investment earnings, business licenses and audit timeline presented to Brentwood committee
Summary
An investment advisor reported about $184,218 earned year-to-date and a total of roughly $3.6 million earned since the city’s investment relationship began; finance staff reported early-year revenues and said auditors will present results to the committee in May and to the board in June.
Brad, the city’s investment advisor, told the Brentwood Ways and Means Committee that year-to-date investment earnings total about $184,218 and that cumulative earnings from the start of the city’s investment relationship amount to roughly $3.6 million.
“These are all government bonds,” Brad said, explaining that the city’s laddered, fixed-rate securities mean the portfolio’s semiannual payments and principal at maturity…
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