Leslie Webber, an investment adviser with PFM, told the Titusville special presentations meeting that the city's investment portfolio totaled approximately $49,000,000 as of Sept. 30, 2025, and was yielding about 4.44% on a cost basis. "We manage the portfolio to meet your key investment objectives of safety, liquidity and yield," Webber said, describing a 1-to-3-year strategy that keeps credit quality high and maturities within the city's policy limits.

Webber gave a market update noting the Federal Reserve cut rates 25 basis points in September and that markets were pricing additional cuts; she said that recent moves pushed shorter-term yields lower and that investors should expect front-end rates to decline if the Fed continues cuts. She showed the city's sector allocations and said the portfolio remains diversified and generally within the investment-policy limits approved by the city.

The presentation emphasized performance and liquidity. Webber reported the quarter return of 1.28% (benchmark 1.12%) and annualized yield near 4.42'4.44%; on an accrual basis she cited approximately $608,000 in earnings for the quarter and about $2,340,000 for the prior year. She said holdings are high credit quality (roughly AA) and are generally liquid. "Typically, if Terry or her team calls us the same day, we could turn it over to make sure you have the cash you need," Webber said.

Council members asked whether a federal government shutdown would change PFM's approach and how often the city draws on investments for operating needs. A council member asked about effects from a prolonged shutdown; Webber replied the firm is data dependent and did not expect to change the strategy at that time. Webber said the city had liquidated funds twice that fiscal year'once in August for $5 million and again about three weeks earlier for another $5 million'and that proceeds were sold at a net gain.

The presentation concluded with Webber offering to provide additional detail on holdings or to model liquidity scenarios if staff requested them. No formal council action was taken at the meeting; the presentation will be part of the record for upcoming financial and budget discussions.