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BCRUA accepts quarterly investment report; Leander interim staff presents portfolio summary
Summary
The board accepted a quarterly investment report covering Oct. 1–Dec. 31, 2024. Todd Parton, Leander city manager filling in for a retired finance director, summarized portfolio yield, short maturities and recent cash infusions for Phase 2A.
Todd Parton, city manager for the City of Leander, presented Brushy Creek Regional Utility Authority’s quarterly investment report for Oct. 1 through Dec. 31, 2024 and said the board should accept the report.
Parton said investment income for the period was about $1,300,000 and accrued interest was about $200,000. He reported a weighted average maturity of about 22 days and a weighted average yield of 2.66 percent. Parton said the portfolio’s market value and par values shown in the report changed during the quarter because two large cash infusions were received to support Phase 2A: approximately $39,000,000 from the City of Leander and approximately $31,000,000 from the City of Round Rock.
Parton provided general market context, saying short-term interest rates had moved and market participants were expecting rate changes in 2025. He characterized the portfolio as short-duration and noted the authority will receive additional partner-city contributions later in the year for the Phase 2A project.
A board member moved to approve the resolution accepting the quarterly investment report for Oct. 1–Dec. 31, 2024. The board voted in favor of the resolution.
