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APS investment portfolio yields fall slightly; district largely invested in Treasuries and agencies, staff report
Summary
At the Feb. 26 finance committee meeting, staff reported a Q2 investment update showing the district’s portfolio primarily in U.S. Treasury and agency securities and a decline in portfolio book yield from 4.8% to 4.41%.
Mark Turnbull presented the district’s second‑quarter investment update at the Feb. 26 finance committee meeting, reporting the portfolio is primarily invested in U.S. Treasury and agency bonds and noting a small decline in book yield.
Turnbull said the book yield decreased from 4.8% to 4.41% for the quarter. Interest earnings for the period were reported at $7,300,000 compared with $9,500,000 in the previous quarter. Staff reported money market balances were approximately $170,000,000, and treasury investments were about $327,000,000 compared with $243,000,000 the prior quarter. The packet included additional information from the district’s investment advisers, Turnbull said.
Committee members did not ask follow‑up questions during the presentation. Turnbull stood for questions and the committee moved to the next item.
Why it matters: Investment yields and portfolio composition affect district interest revenue available for operating and capital uses. The presentation provides the board and public with regular transparency on where district cash is invested and recent earnings.
Note on transcript clarity: one line in the packet discussion about the government investment pool contains unclear phrasing in the transcript record; the clear figures provided to the committee were the book yield, interest earnings, money‑market and treasury holdings noted above.
