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payments. We also build in a reserve balance maintained in money market accounts in case <br />of unexpected expenditures. <br />The Treasury yield curve has increased from June 29, 2018 pretty evenly across all terms. <br />although agency yields are beginning to climb. Three-month notes are yielding 2.19% and <br />the 10-year notes are 3.05%. <br />Cities generally use a short-horizon benchmark such as the two-year Treasury Bill or some <br />similar measure, currently at 2.81% which is an increase from 2.52% the previous quarter. <br />Our current portfolio yield is roughly 2.4%, which is slightly less than the treasury yield <br />benchmark. <br />Our primary reserve account is our 4M Fund which is a money market account where many <br />cities pool their funds. It currently yields 1.84% with daily withdrawal privileges. The city <br />strives to maintain a strong diversification portfolio so liquidity and exposure risk are <br />reduced. <br />Attachments <br />Investment summary <br />