Oak Harbor committee hears Q1 investment report showing $93 million in holdings and 3.9% portfolio yield

Adrian Gonzales, the presenter to the City of Oak Harbor Investment Committee, summarized the city’s Q1 2026 investment position on June 17, saying the municipality’s combined bank and investment balances are about $93,000,000 and the portfolio’s weighted average yield is roughly 3.9%. "Our total combined investments has 3.9 weighted average, and that obviously beats the 6 month treasury benchmark of 3.72, which is really good," Gonzales told the committee.

Gonzales reported specific holdings and allocations, saying there are "24 PiersIP or Vonix with $2,000,000 each for a total of $48,000,000" and that LGIP, fire bond and primary account balances total $43,462,701. He noted recent outflows in the first quarter included a refunding loan debt-service payment of $1,900,000 and roughly $1,400,000 in other expenditures (about $800,000 for a vehicle engine and roughly $600,000 for Park 1 paid in March).

Gonzales walked through the portfolio composition (CUSIPs, LGIP, and the US Bank primary account) and a maturity schedule he described as having a weighted average maturity of around two years. He said staff purchased additional bonds in March as rates rose (three Q6 purchases) and that the mix has shifted toward those bond holdings since March.

The presenter also highlighted earnings and short-term returns: he said the portfolio has approximately $1,700,000 in locked-in interest and that LGIP earnings for the first quarter were $436,000. Committee members thanked Gonzales for the clear reporting and had no request for immediate policy changes; Chair closed the discussion after scheduling follow-up coordination by email.