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MAPS investment trust posts 15.4% gain for 2024; trust outlines disbursement timeline
Summary
City treasurer Matt Boggs reported the MAPS investment and operating trust’s market value rose to about $133.3 million as of Dec. 31, 2024, a 15.4% increase above the initial invested amount; the trust summarized how and when disbursements will be calculated and made.
City Treasurer Matt Boggs, serving as treasurer for the MAPS investment trust, told the advisory board on Feb. 6 that the trust’s market value was $133.3 million as of Dec. 31, 2024 — about $17.79 million (15.4%) above the initial invested amount of $115.54 million.
Boggs provided an asset allocation snapshot: roughly 55% equities, 41% fixed income and about 3.3% cash/cash equivalents as of the reporting date. He described trust expenses since inception (about $145,000 for investment consultant, custody bank and audit) and noted one disbursement previously made (about $159,000). The trust has an investment policy that is reviewed annually and receives quarterly monitoring and rebalancing guidance from its investment consultant.
Boggs outlined the calendar for disbursements: the trust will receive a distribution calculation from the investment consultant and present it to the trust on Feb. 17; letters will be sent to project partners in Feb.–March notifying them how much is available; the city finalizes its fiscal year 2026 budget in April–May; approved disbursements would be made in July to coincide with the fiscal year. Boggs said that, where necessary, the trust will move funds into cash or money‑market vehicles to meet disbursements and that unused annual disbursements can remain invested and grow for future use.
Board members asked about asset allocation, cash management for disbursements and timing; Boggs said policy is reviewed annually and investment consultant recommendations are addressed quarterly. The treasurer and board chair said the 2024 performance exceeded initial expectations and that the trust remains managed for a long‑term horizon.
