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Spokane Q3 investment report shows $2.1M unrealized loss, $8.1M interest income YTD

Spokane City Council Finance & Administration Committee · November 4, 2025

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Summary

City investment staff reported a $2.1 million unrealized loss and $8.1 million in interest income through Q3 2025 while portfolio composition remained heavily weighted in federal agency securities and LGIP balances.

Connor Thornton presented the Q3 2025 investment results, summarizing portfolio composition, liquidity and performance metrics.

Thornton said the portfolio remains heavily weighted toward federal agency securities (53%) and the city's LGIP (local government investment pool) at about 16%. Short-term liquidity is approximately $201 million, or about 61% of the portfolio, consistent with the city's strategy to maintain near-term liquidity. Thornton told the committee the portfolio realized an unrealized loss on paper of about $2.1 million year-to-date while interest income generated approximately $8.1 million YTD (00:04:29).

He noted a modest rebalancing after a $20 million maturity that was reinvested across a U.S. Treasury and a Federal Farm Credit Bank security, and that municipal securities remain slightly out of compliance at roughly 11% of the portfolio due to no new municipal purchases since 2022. Thornton said portfolio duration and maturity are slightly below the benchmark and that coupon sits near 3.13% while yield compared with the benchmark shows a modest gap.

The presentation concluded with a debt-service schedule overview. No committee action was taken.