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Sequim finance director reports $27M in city investments and urges policy updates
Summary
Sequim Finance Director Sue Hagener told the mayor and council the city held about $27 million in cash and investments as of Dec. 31, 2025, that investments meet state-law requirements though returns fell below policy benchmarks, and that policies will be updated to reflect state-auditor guidance on multi-year subscriptions and leases.
Sue Hagener, Sequim finance director, presented the city's 2025 financial policy compliance review to the mayor and council, reporting that "As of 12/31/2025, the city had about $27,000,000 in cash and investments." She said the portfolio meets statutory requirements but that recent market conditions produced returns below the policy's benchmark band.
Hagener said the city's investment policy prioritizes legality, liquidity, safety and yield, and defines a fair-rate-of-return benchmark as the range between the 90-day Treasury bill and the two-year Treasury note. "The city's rate of return fell below benchmarks for the fair rate of return established by policy," she said, attributing the shortfall to recent short-term…
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