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<br />STAFF REPORT <br />CENTERVILLE CITY COUNCIL <br /> <br />JY <br />;\f <br />U/) <br />\tr; <br />{JD <br />,I' , <br />kvY ~ ~ V\ <br /> <br /> <br /> <br />tervi[[e <br />'LstaE[islie<C 18-'7 <br /> <br />Date: <br /> <br />June 9, 2004 <br /> <br />To: <br /> <br />Honorable Mayor and City Council Members <br />Ms. Kim Moore-Sykes, City Administrator <br /> <br />Ellen PauJseth, Finance Director tR <br />Annual Investment Report <br /> <br /> <br />From: <br /> <br />Re: <br /> <br />___. *~**~~-#~~~*~~~*~_#="~****~~_~*~~~~~E*'~_*_~*~:.L~~_~k~_*:kj;:~kk~~it*~_~~*.'k*~*:***~-*-*----=____ <br /> <br />We have been concentrating on developing an investment portfolio and maximizing <br />interest revenue, I have prepared an investment return summary analysis and will be <br />reporting to you on the following key highlights: <br /> <br />:> Interest Income increased $52,894 over last year. <br /> <br />:> Development of a laddered approach. <br /> <br />>- Average cash balance increasing due to enterprise fund reserves and bond <br />proceeds. <br /> <br />>- Interest revenue for City projected to come in at or near year 2000 level in <br />2004. <br /> <br />>- Rates have been continually declining; optimistic for slow increase over time. <br /> <br />>- Rate of return has been increasing due to investment of idle funds. <br />