Town of Belleair - File #: 24-0014

• File #: 24-0014
• Version: 1
• Type: Discussion Items
• Status: General Agenda
• File created: 1/17/2024
• In control: Finance Board
• On agenda: 1/17/2024
• Final action: 1/17/2024
• Title: Investment Schedule - 1st Quarter Results Summary: Present results on investing available funds for the first quarter of FY 2024

Date	Ver.	Action By	Action	Result
1/17/2024	1	Finance Board	adopted	Pass

Summary

To: Finance Advisory Board

From: Tina R Porter, Finance Director

Date: 1/17/2023

______________________________________________________________________

Subject:

Title

Investment Schedule - 1^st Quarter Results

Summary:

Present results on investing available funds for the first quarter of FY 2024

End

Body

Previous Commission Action: Resolution 2018-20 Investment Policy

Background/Problem Discussion: Monitored cash flow in order to maximize investment earnings.

Expenditure Challenges  None

Financial Implications:  To invest available funds to maximize the return on the portfolio and to preserve the principle while avoiding unreasonable risk.  Interest earned in the 1^st Quarter totaled $244,565.02, a marked improvement over prior year’s 1^st quarter of $151,343.93.

Recommendation:  I recommend approval of the investment schedule to be presented to the Town Commission at next regularly scheduled meeting.

Proposed Motion  I approve the recommendation to present the investment schedule to the Town Commission at next regularly scheduled meeting.