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File #: 23-1058    Version: 1
Type: Report Status: Filed
File created: 10/24/2023 In control: Finance Committee
On agenda: 11/2/2023 Final action: 11/2/2023
Title: Report on investment inventory statistics at September 30, 2023
Attachments: 1. Inv Stat 2023 Q3 att.pdf

TRANSMITTAL LETTER FOR BOARD MEETING OF NOVEMBER 2, 2023

 

COMMITTEE ON FINANCE

 

Mr. Brian A. Perkovich, Executive Director

 

Title

Report on investment inventory statistics at September 30, 2023

Body

 

Dear Sir:

 

Attached is a report of Investment Inventory Statistics at September 30, 2023, and a summary of Financial Market Statistics for the third quarter of 2023.

 

The average interest rate of the investment inventory at the end of September was 3.95%, an increase from 3.94% at June 30, 2023. The total par value of the inventory was $866,591,283.99 at month-end. The average level of investment for the quarter was 100% of available funds, exclusive of required compensating cash balances.

 

The District’s portfolio underperformed its benchmark, the 90-day Treasury Bill, whose twelve-month rolling average yield was 4.83% as of September 30th. The Federal Funds rate, a daily borrowing rate between banks, was 5.34% at month-end, reflecting the recent increases to interest rates.

 

Respectfully Submitted, Mary Ann Boyle, Treasurer, MAB

 

Attachment