TRANSMITTAL LETTER FOR BOARD MEETING OF MAY 18, 2023
COMMITTEE ON FINANCE
Mr. Brian A. Perkovich, Executive Director
Title
Report on investment inventory statistics at March 31, 2023
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Dear Sir:
Attached is a report of Investment Inventory Statistics at March 31, 2023, and a summary of Financial Market Statistics for the first quarter of 2023.
The average interest rate of the investment inventory at the end of March was 3.57%, an increase from 2.91% at December 31, 2022. The total par value of the inventory was $911,075,063.46 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 outperformed its benchmark, the 90-day Treasury Bill, whose twelve-month rolling average yield was 3.15% as of March 31st. The Federal Funds rate, a daily borrowing rate between banks, was 4.85% at month-end, reflecting the recent increases to interest rates.
Respectfully Submitted, Mary Ann Boyle, Treasurer, MAB
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