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SEDC reports $25.36 million fund balance, strong investment yield
Summary
Michelle Shaw told the Stafford Economic Development Corporation board that the combined fund balance stood at $25,364,423 as of May 31, 2026, with year-to-date interest income above $500,000 and an overall weighted average yield of 3.79%.
Michelle Shaw, presenting the financial report for the period ending May 31, 2026, told the board the combined fund balance totals "$25,364,423," an increase of roughly $3.9 million compared with the same period in the prior fiscal year. "The overall weighted average yield is 3.79%," she said, and reported year-to-date interest received over $500,000.
Shaw outlined the SEDC's cash and investment allocations: approximately 9.77% ($2,300,000) in the investment pool Logic; 26.54% ($6,270,000) in Texas Class; 21.65% ($5,110,000) in brokered certificates of deposit; 27.52% ($6,500,000) in government agencies; 12.70% ($3,000,000) in U.S. Treasury securities; and the remaining 1.82% ($430,000) in the depository bank Stellar. She reported a weighted average maturity of about 404 days and noted two CDs matured in May with proceeds reinvested into a federal agency and a CD earning about 4% interest.
Board members asked clarifying questions about fund balances and why some budgeted maintenance amounts exceed actual usage; Shaw explained that many project resolutions include set maintenance amounts the SEDC budgets each year even if spending varies. The board took no formal action on the financial report; Shaw said she would respond to follow-up questions as needed.
