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City treasurer says investments are healthy but final quarter numbers pending
Summary
City Treasurer Ward told the council the July–September quarterly investment report was pending final numbers due to an asset-manager system upgrade and said over 60% of the city's investments are A+-rated.
City Treasurer Ward presented the city's quarterly investment update for July through September and told the council that the asset-management firm is migrating to a new system, which delayed issuance of exact final figures.
Ward said the city's portfolio remains in good condition and that "over 60% of our investments are in a a plus rating." He said the most recent quarter's exact performance figures are still pending and will be released when the asset manager completes the system transition.
Councilmembers thanked the treasurer and asked no substantive follow-ups. Ward and council agreed the city's investments appeared favorable relative to the prior quarter but that the final report will be provided when the asset manager supplies the updated figures.
