TRANSMITTAL LETTER FOR BOARD MEETING OF APRIL 18, 2019
COMMITTEE ON FINANCE
Mr. Brian A. Perkovich, Executive Director
Title
Report on investments purchased during March 2019
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 March 2019.
During the month, 120 individual investments were made with a total par value of $398,044,000.00 at an average annual yield of 2.46%. The interest income to maturity of these investments is $2,112,414.25.
Additionally, 5 investments were made in Money Market Funds during the month, with a par value of $10,150,051.32 at an average annual yield of 2.43%.
The fixed income market is beginning to recover from the exceptionally low investment yields experienced in the last ten 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