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Redmond updates investment policy as yields fall; council adopts FIN-111
Summary
The City of Redmond reviewed market conditions, reported higher-than-expected interest revenue, and adopted an updated investment policy (FIN-111). Finance Director James Wood and adviser Lauren Brandt presented a laddered, cash‑flow driven strategy constrained by policy limits (weighted average maturity ~2.5 years, maximum 5 years).
At the May 20 council meeting the City of Redmond’s finance team briefed council on macroeconomic conditions and the performance of the city’s investment portfolio, and the council approved an updated investment policy (FIN‑111).
Finance Director James Wood presented the city’s objectives: preservation of capital, liquidity, diversification and a measured return. Wood said interest revenue has grown materially in the city’s budget projections — from roughly $600,000…
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