To: Mayor and City Council
From: Aaron Rector, Interim City Manager
Subject:
Title
Consider a resolution receiving the Keller Quarterly Investment Report for period ending September 30, 2024, and providing an effective date.
Action Requested:
Consider a resolution receiving the Keller Quarterly Investment Report for period ending September 30, 2024, and providing an effective date.
Background:
On November 19, 2024, the City’s investment advisor, Valley View Consulting, presented the Keller Quarterly Investment Report to the Keller Finance Committee. The Committee reviewed and approved the Quarterly Investment Report for period ending September 30, 2024 as presented. The total book value is $177,293,889, and total market value is $177,293,889. The quarterly interest income is $2,411,003 and year-to-date interest income is approximately $8,948,778.
Financial Impact:
Interest income for the quarter is approximately $2,411,003. The interest income is distributed to funds according to their current fund balances.
Citizen Input/Board Review:
The Keller Finance Committee reviewed and approved the financial report on November 19, 2024.
Legal Review:
N/A
Alternatives:
City Council has the following alternatives:
- Approve as submitted
- Approve with changes
- Denial
Council Action:
Staff recommends approval as presented.