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File #: 18-0905    Version: 1
Type: Report Status: Filed
File created: 8/28/2018 In control: Finance Committee
On agenda: 9/6/2018 Final action: 9/6/2018
Title: Report on investments purchased during June 2018
Attachments: 1. Inv Purch 2018-06 att.pdf

TRANSMITTAL LETTER FOR BOARD MEETING OF SEPTEMBER 6, 2018

 

COMMITTEE ON FINANCE

 

Mr. John P. Murray, Acting Executive Director

 

Title

Report on investments purchased during June 2018

Body

 

Dear Sir:

 

Attached is a report indicating the investments made in securities and overnight money market funds for the various District Funds during the month of June 2018.

 

During the month, 40 individual investments were made with a total par value of $164,230,000.00 at an average annual yield of 2.06%. The interest income to maturity of these investments is $707,960.81.

 

Additionally, 7 investments were made in Money Market Funds during the month, with a par value of $65,949.50 at an average annual yield of 1.59%.

 

The fixed income market is beginning to recover from the exceptionally low investment yields experienced in the last nine years. Investments continue to be made to meet the District’s liquidity demands for debt service, payroll, and other operating expenditures, based upon the best yield offered on the date of investment as well as the diversification requirements of the District’s Investment Policy. See the last page of the attachment for the average market interest rates offered for purchases during the month.

 

Respectfully Submitted, Mary Ann Boyle, Treasurer, MAB:st

 

Attachment