Bank of Texas: small parks trust portfolios end 2024 at $1.86M; returns vary by measure

A Bank of Texas representative presented an annual investment report on the Braulweiler, Weiss and Craddock small-park trust funds to the Parks and Recreation Board, reporting the trusts had a combined market value of approximately $1,862,000 at the end of calendar year 2024.

The bank's presenter said the portfolio earned a strong calendar-year return for 2024 and described that result as roughly 10.7% net of fees for the calendar year. He also provided a trailing-12-month performance table through the most recent March reporting period and noted that, over that trailing 12 months, the portfolio’s net return was reported as about 4.8% after fees when measured against a corrected, more appropriate benchmark aligned with the trust’s conservative asset allocation.

The presenter explained the trust documents limit equity exposure (maximum 60%), which constrains risk and shapes the correct benchmark. As of the March reporting period, the portfolio allocation was roughly 7% cash equivalents, 36% fixed income and 56% equities, producing a balanced profile in line with the trust instructions.

Board members asked about the process for drawing on the trusts for park maintenance or capital needs; staff said that requests to draw funds require board approval and documentation submitted to Bank of Texas and that the trusts historically have been allowed to grow rather than pay out regular distributions.

Ending: The presentation concluded with staff and trustees agreeing that drawdown requests will follow the board’s standard approval process and that the trust manager will continue to report performance against a benchmark aligned to the documents’ conservative equity limits.