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Ketchikan Gateway Borough reports $1.3 million interest in FY24; staff shifts AMLIP allocations
Summary
Finance Director Charlene Thomas told the borough's Investment Advisory Committee on Feb. 6 that the borough earned about $1.3 million in interest in fiscal 2024 and is on track in fiscal 2025 after moving and reallocating funds between AMLIP series accounts and CDs.
Ketchikan Gateway Borough’s Investment Advisory Committee heard an update on Feb. 6 from Finance Director Charlene Thomas that the borough earned about $1,300,000 in interest on its investments in fiscal 2024 and had earned $647,000 so far in fiscal 2025.
Thomas told the committee the packet chart shows year-to-date interest for fiscal years 2020 through 2025 and that the borough holds three main types of investments: laddered Pershing certificates of deposit (CDs), a Wells Fargo money market account and accounts in the Alaska Municipal League Investment Pool (AMLIP). “We ended last fiscal year 24, with 1,300,000.0 in interest earned on our investments,” Thomas said. “And for fiscal year 25, we're currently at 647,000, so we're right on track to hopefully meet at least what we earned last year in interest.”
Why it matters: the committee…
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