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Council unanimously approves quarterly investment report as portfolio rises to $44.3 million
Summary
Mr. Thomas told council the city's investment portfolio rose from about $41.8 million to $44.3 million and fiscal year interest earnings are just under $800,000. Council moved and approved the quarterly investment report for March 31, 2026 by unanimous vote.
Mr. Thomas presented the quarterly investment report to the Texas City Council on May 4, reporting that the market value of the city's investments increased from roughly $41.8 million to about $44.3 million and that fiscal‑year interest earnings totaled just under $800,000.
Thomas walked council through portfolio holdings, current coupon and discount rates, maturity dates and a fund‑by‑fund book‑to‑market comparison. He said the report also includes a three‑ and six‑month rolling Treasury yield comparison and noted that Treasury yields and the S&P 500 had begun to drop slightly over recent quarters.
Council members asked how institutions are chosen to hold municipal funds and about collateralization and FDIC protections. Thomas said an advisor named in the report helps maintain a list of depositories and solicit bids, but that final placement decisions and term lengths are made by him and the finance director: "They provide us with the data...but ultimately at the end of the day, that decision rests between myself and the finance director," he said. He also described how staff weigh diversification and timing against marginally higher yields.
Mayor Kelly moved to approve the quarterly investment report for the period ended March 31, 2026; a second was recorded and the motion carried 6–0.
The motion authorizes filing the report required under the Public Funds Investment Act and no additional council action was recorded on the item.
