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City treasurer reports strong fiscal-year 2024 investment returns; portfolio remains compliant with state law
Summary
Treasury Manager presented the city's annual investment report for FY 2024, citing an amortized return of 4.28% and compliance with Florida Statute Chapter 218 part 4 and the city's investment policy; council asked for more details on holdings and non-pension allocations.
The Boca Raton City Council received the city’s annual investment report for fiscal year 2024 on March 17, with Treasury Manager Conahan reporting a 4.28% amortized return for the portfolio measured Oct. 1, 2023 through Sept. 30, 2024.
Conahan told the council the city’s investment policy — most recently updated in September — and Florida law (Florida Statute Chapter 218, Part IV) guide the portfolio. He said the city stayed within its policy allocation limits and that the portfolio’s composition favored longer-duration fixed-income, particularly U.S. government-sponsored enterprise securities, during the fiscal year.
Conahan explained staff’s approach: for fiscal…
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