Lee's Summit reports $318.6M investment portfolio; most held to maturity

Susan Brokhouse, cash management officer, presented the city's investment summary for the quarter ending March 31, reporting a total portfolio market value of $318,609,989.

Brokhouse said 70.18% of the portfolio was invested in U.S. Treasury securities, 6.86% in U.S. government agency securities, and 11.9% in demand deposits; the remaining balance represented bond proceeds that had not yet been expended. She summarized the portfolio maturity distribution (about 30.3% maturing within one year, 41.7% between one and three years, and 28% between three and five years) and noted the yields on recent purchases ranged roughly from 3.64% to 4.08% while matured yields ranged from about 3.83% to 4.99% during the quarter.

Brokhouse explained the mark-to-market adjustments are accounting entries that reflect current market value but do not affect the city's budget because securities are held to maturity.

Committee members had no substantive questions and the item closed without change.