Title
Fiscal Year 2021 Year-End 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 (B)
City Commission to review various Fiscal Year 2021 Year-End Investment Performance Reports.
Explanation
In accordance with the City’s Investment Policy, quarterly investment and performance reports are required to be provided to the City Commission. The following reports are submitted for Fiscal Year 2021 Year-End (period ended September 30, 2021):
1) Operating Funds SBA Prime Fund Investment Performance Report
2) General Employees’ Pension Fund Investment Performance Report
3) Police Officers’ & Firefighters’ Pension Fund Investment Performance Report
4) Retiree Health Insurance Trust Fund Investment Performance Report
5) Evergreen Cemetery Trust Fund Investment Performance Report
Detailed quarterly reports related to the City’s SBA Prime Fund account & Truist bank accounts, Evergreen Cemetery Trust Fund, General Employees’ Pension Plan, Police Officers’ & Firefighters’ Pension Plan and Retiree Health Insurance Trust Fund are included as back-up to this item. The reports are derived from applicable bank and custodian statements, and are provided by staff and respective investment consultants.
Additionally, two internal review committees meet quarterly to review the portfolio’s performance, economic and market conditions to ensure the City is most favorably positioned in its investment portfolios.
Strategic Connection
Goal 5: "Best in Class" Neighbor Services
Fiscal Note
The General Government pooled cash is held in the SBA Prime Fund and interest bearing SunTrust/Truist demand deposit bank accounts. As of September 30, 2021, the cash and investment balance was $202,563,922. Fiscal year-to-date interest of $257,075 was earned at an annualized rate of return of 0.16%.
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