Town of Belleair - File #: 24-0019

• File #: 24-0019
• Version: 1
• Type: Discussion Items
• Status: General Agenda
• File created: 1/24/2024
• In control: Town Commission
• On agenda: 2/13/2024
• Final action: 2/13/2024
• Title: Investment Schedule - 1st Quarter FY 23/24 Summary: Presenting the Investment Schedule for the 1st Quarter of FYE 9-30-24

Date	Ver.	Action By	Action	Result
2/13/2024	1	Town Commission	adopted	Pass

Summary

To: Town Commission

From: Gay Lancaster, Town Manager                                                               

Date: 2/13/2024

______________________________________________________________________

Subject:

Title

Investment Schedule  - 1^st Quarter FY 23/24

Summary:

Presenting the Investment Schedule for the 1^st Quarter of FYE 9-30-24

End

Body

Previous Commission Action: Commission approved Investment Policy in 04/17/2018, Resolution 2018-20.

Background/Problem Discussion: Finance Department monitored cash flow in order to maximize investment earnings.

Expenditure Challenges: NA

Financial Implications:  Available funds were invested 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.  The results were due to higher interest rates earned in the 1^st quarter of FY 23/24, approximately 5.5% versus 4.1% in FY 22/23.

Recommendation:  I recommend acceptance of the investment schedule as presented for the 1^st quarter of FYE 9-30-24.

Proposed Motion  I move to accept the investment schedule as presented for the 1^st quarter of FYE 9-30-24.