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Staff reconciliation shows substantial fiscal‑year gains, staff tells board
Summary
City finance staff reported strong monthly capital appreciation and said the system's market value is around $652.9 million; staff characterized the fiscal‑year outcome as a very good result for the fund.
City finance staff presented the board with a monthly reconciliation showing net contributions and investment gains that boosted the system's market value.
The staff member said the system began the fiscal year at a lower market value and that, over the 12‑month period, the portfolio generated substantial gains; staff described the outcome as positive for the fiscal year. “That’s a very good outcome for us already in the fiscal year,” the staff member said.
Staff reported the system's market value at roughly $652.9 million and said they expected additional city contributions in July and August along with tax receipts in August that would add cash to the plan.
