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.