City hears PFM briefing showing $283.3M reserve and positive recent returns

Leslie Webb Weber, a PFM representative, told the City of Plantation on April 29 that the city’s operating reserve totaled about $283.3 million as of Dec. 31, 2025, and that the investment strategy emphasizes safety, liquidity and yield with an effective duration of roughly 1.77 years. She said yield‑at‑cost was 4.28% and that the portfolio returned about 5.52% over the prior 12 months, producing approximately $14.1 million in total dollar return for the year.

Weber framed performance against the broader economy, telling the council that U.S. growth had slowed but remained positive and that inflation and geopolitical risks are the primary drivers of recent yield volatility. “Given where unemployment is and the rising inflation risk, the Fed feels pretty confident staying steady until they learn more,” she said, noting the Fed funds rate remained in the 3.5%–3.75% range.

City staff confirmed that despite market volatility the portfolio continues to meet the city’s investment policy and asset allocation limits. Weber said the portfolio’s top sector allocations are U.S. Treasuries, corporate notes and asset‑backed securities and that overall credit quality averages roughly AA.

Council members asked clarifying questions; staff said the statistics Weber cited were reported through Dec. 31, 2025, and that the city will continue to monitor performance and regulatory developments. The presentation concluded with staff offering to provide further details on yield calculations and compliance testing if council members requested them.