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 July 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 July 2018.
During the month, 70 individual investments were made with a total par value of $299,000,000.00 at an average annual yield of 2.06%. The interest income to maturity of these investments is $1,126,298.29.
Additionally, 6 investments were made in Money Market Funds during the month, with a par value of $50,580.42 at an average annual yield of 1.61%.
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