Title
Investment Performance Reports for the City of Gainesville Operating Fund, General Employees’ Pension Fund, Police Officers’ and Firefighters’ Pension Fund, Retiree Health Insurance Trust Fund, Evergreen Cemetery Trust Fund, and Gainesville Fuel Hedging Program(B)
City Commission to review various 4th quarter fiscal year 2020 investment performance reports.
Explanation
The City’s Investment Policy requires that quarterly investment performance reports be submitted to the City Commission for review. On November 16, 2020, the Audit and Finance Committee reviewed and approved the following September 30, 2020 reports, and recommended them for submission to the City Commission:
1) General Government Operating Fund
2) General Employees’ Pension Fund
3) Police Officers’ & Firefighters’ Pension Fund
4) Retiree Health Insurance Trust Fund
5) Evergreen Cemetery Trust Fund
6) Fuel Hedging Program
Fiscal Note
General Government Operating Fund - Projected FY 2020 year-end balance is $155,677,281 with a total fiscal year interest earned of $1,585,925 and a fiscal year investment return of 1.18%.
General Employees’ Pension Fund - Projected FY 2020 year-end balance is $415,322,703 with a fiscal year return of 4.07%.
Police Officers’ & Firefighters’ Pension Fund - Projected FY 2020 year-end balance is $243,155,356 with a fiscal year return of 7.1%.
Retiree Health Insurance Trust Fund - Projected FY 2020 year-end balance is $59,301,272 with a fiscal year return of 0.98%.
Evergreen Cemetery Trust Fund - The projected FY 2020 year-end balance is $1,382,210 with a fiscal year return of 6.81%.
Fuel Hedging Program - During the fourth quarter, the Fuel Hedging Program produced a positive FY20 fuel cost (hedging realized loss) of approximately $9,750 or approximately $0.03 per gallon. As of September 30th, there was an unreal...
Click here for full text