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rr^, <br />***"PTING <br />mar 1 I 2002REQUEST FOR COUNCIL ACTION <br />DATE: MarchS'i,’'i(ll&y«t;'VO <br />ITEM NO; <br />Department Appro^: V ^Administrator Reviewed: Agenda Section: <br />Name: Tom Kuehi/lo*^*^^ pY)/f City Administrator's Report <br />Title; Finance Director M/ <br />Item Description: Investment Report for the Year Ended December 3 1,2001 <br />Attachment; Investment Interest Earned compared to Revenue Budgets, 2001 <br />The unaudited statement of earned interest for the year ended December 31 ,2001 , reflects <br />interest earned of $492,681 compared to budgeted amounts of $508,290, an unfavorable <br />variance of $ 15,609. As a comparison, interest earned in 2000 was $582,547, and <br />interest earned in 1999 was $497,411. These amounts exclude all HRA investment <br />earnings. <br />The average yield for 2001 was 5.56%, e.\cluding all URA investments held by the <br />Trustee. This compares with an average yield of 6.29% for 2000, and 5.77% for 1999. <br />The investment portfolio, at cost, on December 31,2001, was $9,539,145, compared to <br />$10,233,994 on December 31,2000, and $9,787,546 on December 31,1999. <br />On December 31,2001, the investments in trust for the HRA debt issues included <br />$413,232 for the 1998 HRA Refunding Bonds. During 2001 the various HRA debt <br />investments earned interest of $73,844. <br />COUNCIL ACTION REQUESTED: <br />Information item, no action required. <br />Wtfii Cmmdi- KttimAh <br />; : <br />4 <br />t ;• <br />11 - <br />im I