Bankers tell Central council investment portfolio totaled about $64 million at year-end; portfolio kept short-term to preserve liquidity

Cindy Averett, relationship manager with Hancock Whitney, and Jeff Tengus, portfolio manager, presented the city’s investment review to the Central City Council on Jan. 28.

Tengus said the city held roughly $64 million across six portfolios as of Dec. 31, 2024, and that the overall portfolio average maturity was short — about 0.74 years — with a money-market weighting of roughly 25 percent to preserve liquidity. He summarized 2024 returns and strategy, saying the composite (market-value weighted) return for the period was about 4.96 percent.

Tengus described a volatile interest-rate environment in 2024 in which short-term Treasury bills and money-market yields rose and provided attractive short-term yields; the council discussed whether to extend maturities. Tengus said most of the city’s funds were invested short term and the team would consider modest extension only if liquidity needs and market signals supported it.

Averett pointed council members to the city’s investment policy statement and referenced Louisiana statute guidance while summarizing account-specific objectives and liquidity rules. Tengus highlighted that different accounts have differing liquidity and purpose: some portfolios must remain highly liquid while legacy accounts include some longer-term securities.

Why it matters: The presentation provided the council with portfolio size, returns, liquidity posture and an explanation of how the city manager’s office and the bank coordinate transfers to maximize yield without compromising liquidity.

No council vote was required; the presentation was informational.