City reports $304.4 million investment portfolio, one-third maturing in 3–5 years

Susan Brockhouse, the city’s cash management officer, presented the quarter-ended March 31, 2025 investment report to the Finance and Budget Committee on May 13.

Brockhouse said the total portfolio was $304,394,574 with 81.17% invested in U.S. Treasury securities, 7.13% in U.S. government agency securities, 7.43% in demand deposits and the remainder consisting of general obligation bond proceeds that had not yet been expended. She said the allocation complies with the city's investment policy and that safety, liquidity and yield guide investment decisions.

The report noted three securities matured during the quarter with a total par value of $15,253,000 and yields ranging from 1.67% to 4.297%. The city purchased six securities in the period totaling $29,340,000 with yields between 3.896% and 4.501%. Brockhouse told the committee that the portfolio now has about one-third of its holdings maturing in the three- to five-year range.

She also reported a year-to-date mark-to-market paper gain of about $5.4 million and said the city continues to receive strong bidder response on investment requests, generally receiving five to seven responses per bid request.

A committee member asked whether the current allocation remains appropriate given goals of safety and liquidity; Brockhouse said she consulted financial advisors, who did not recommend changes and that U.S. Treasuries remain the most secure holdings with attractive yields at present.

No actions were taken; the report was accepted for the record and committee members had no further requests for immediate action.