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Hewitt council approves quarterly investment report showing about $38.4 million in holdings
Summary
The Hewitt City Council unanimously approved its quarterly investment report for the quarter ending Dec. 31, 2024, which shows an approximate market value of $38.4 million, a quarterly yield of about 4.58% and interest earnings of $444,273.
The Hewitt City Council on Jan. 21 approved the city’s quarterly investment report for the quarter ending Dec. 31, 2024, during its special meeting.
Finance Director Lee Garcia presented the report, saying the city’s portfolio had a total market value of “just short of $38,400,000” at quarter end, a quarterly yield of about 4.58% and interest earnings for the quarter of "$444,273." Garcia told council members the packet includes breakdowns by issuer, fund and maturity dates and noted the quarter’s growth was partly driven by beginning to receive property tax revenue.
The quarterly investment report is…
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