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Memo <br />City Council <br />Quarterly Financial Reports <br />2 <br /> <br />An Investment Portfolio has also been included with these financial reports. Per the Investment Policy, <br />our Benchmark Rate is the 4M plus Rate. At June 30, 2014 this rate was 0.05% and our portfolio is <br />averaging 3.009% in long-term investments and 2.148% overall. All of our investments are in <br />government secured or government backed deposits. The section listed at the top of the portfolio is the <br /> We are trying to stay diversified in this area and will <br />be transferring between these accounts. We have had some of our high interest notes call and are working <br />on cash flows with the PMP and other CIP projects to determine how much we can invest and for what <br />time periods. We are also researching other liquid investment options that will possibly give us a better <br />return, but are still determining our immediate cash flow needs. <br /> <br />If you have any questions, please feel free to call us. You also have available to you the Detailed <br />Summary Trial Balance which includes all transactions from the year on the Council SharePoint page. <br />We update this report monthly. <br /> <br />Staff Recommendation <br /> <br />nd <br />Staff requests that Council accept the 2 Quarter Financial Reports. <br /> <br />Attachments <br /> <br />Attachment A: City-Wide Budget Summary <br />Attachment B: General Fund Summary <br />Attachment C: Investment Portfolio Analysis <br />