New Braunfels reported a $231.7 million investment portfolio as of June 30, down $15.6 million from the prior quarter; city staff attributed the decline mainly to insurance, debt-service and capital spending. The finding appears in the city’s newly posted third-quarter investment report.
The portfolio generated $2.07 million for city funds during the quarter, while most of its market value remained in daily-liquid investment pools. The portfolio summary lists about $194 million in investment pools, $21 million in cash, $10 million in agency securities and $6 million in certificates of deposit.
The weighted average maturity was 17 days, five days shorter than in the second quarter. The weighted average yield was 3.48%, down 0.08 percentage points. City staff said both movements followed the maturity of a longer-term investment; the proceeds went into an overnight pool, while short-term pool rates softened during the quarter.
The council is scheduled to consider agenda item 26-1148 at its 6 p.m. Sept. 28 meeting in City Hall’s Council Chambers. Staff recommends approval, but the agenda establishes only the proposed action. The Sept. 28 agenda lets residents verify the meeting schedule; the council’s vote and subsequent minutes will establish the outcome.