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Hewitt council approves quarterly investment report; city reports $425,416 in interest for quarter
Summary
Council approved the quarterly investment report for the quarter ending March 31, 2025, noting a market value increase to $39,491,408 and quarter interest earnings of about $425,416; the report compared portfolio yields to short-term Treasuries and described account and reserve allocations.
The Hewitt City Council voted 6-0 to approve the city’s quarterly investment report for the quarter ending March 31, 2025.
City staff presented the report prepared by Valley View Consulting, LLC and described portfolio performance and holdings. “As of 03/31/2025, [market value] had moved up to $39,491,408, providing us an average yield during the quarter of 4.36%,” the presenter said. The presenter added, “I’m happy to report to you that our interest earnings for the quarter were around $425,416, bringing us to a fiscal year-to-date interest income of $869,689.”
The report compared the portfolio’s rolling yields to 3‑ and 6‑month Treasury rates and noted that the city’s portfolio was performing slightly better than those short-term benchmarks. The packet broke out holdings by issuer and by portfolio, listing accounts at Independent Bank, Southside Bank, East West Bank, First National Bank and the local government investment pool. The report also identified amounts attributed to the general fund, utility funds, capital projects, debt service and 90‑day reserves.
Councilman Turner moved to approve the report; the motion was seconded by Pro Tem Dr. Bruce. City Secretary Lydia called the roll: Davis — Yes; Turner — Yes; Farr — Yes; Van Halen — Yes; Bruce — Yes; Porter — Yes. The motion carried 6 to 0.
