Agenda 12/14/2021 Item #16J 3 (Report regarding investment of County funds as of the quarter ended September 30, 2021)12/14/2021
16.J.3
EXECUTIVE SUMMARY
Report to the Board regarding the investment of County funds as of the quarter ended
September 30, 2021.
OBJECTIVE: To provide the Board a report regarding the investment of County funds as of
the quarter ended September 30, 2021.
CONSIDERATIONS: Florida Statute 28.33 provides for the investment of County surplus
funds by the Clerk of Courts and Comptroller (Clerk). The Clerk manages the investment of
Board funds in accordance with Florida Statute and the Board of County Commissioners' lawful
adopted investment policy using best practices and financial advice. The Clerk will continue to
provide a monthly summary of investments on the Clerk's website for public access.
Additionally, the Clerk is providing this update as to the status of the Board's investment
portfolio on a quarterly basis at a publicly noticed Board of County Commissioners' meeting.
Attached as exhibits are the investment portfolio inventory, portfolio composition pie chart,
along with yield and return graphs as of the end of the fourth quarter of FY-2021. The total
managed portfolio as of September 30, 2021 was $1.59B, at par value. As of September 2021,
Collier's 12 month short and long-term yields exceeded their respective benchmarks by .03%
and .49%. Short-term yield exceeded the Standard and Poor's benchmark primarily due to the
performance of funds with the FLCLASS and Florida PALM (LGIPs) Enhanced Cash and term
investment options. The Board's Concentration (Operating) Account has also been included on
the chart and bore interest of .25%, .15% over the short-term benchmark, as of September 30,
2021. Over the same period, the Collier portfolio's long-term sector 12-month total return was
.01% lower than the Bank of America 1 to 3-year Treasury index's total return. The current
investment strategy is to purchase investments in the 3 to 5 year maturity range to take advantage
of yield increases, while maintaining sufficient short term liquidity to take advantage of
anticipated yield increases. There is no realized gain or loss of principal associated with the
performance to benchmark of the long or short-term portfolio.
GROWTH MANAGEMENT IMPACT: None.
FISCAL IMPACT: None.
LEGAL CONSIDERATIONS: This item has been reviewed by the County Attorney, raises
no legal issues and requires majority vote for any Board action. -JAK
RECOMMENDATION: The investment report exhibits are provided to the Board as
information only, no action is required.
Prepared by: Derek M. Johnssen, Finance Director,
Office of the Clerk of the Circuit Court and Comptroller
ATTACHMENT(S)
1. Investment Exhibits QTR4 FY 2021 (PDF)
Packet Pg. 2321
16.J.3
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Packet Pg. 2322
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COLLIER COUNTY
Board of County Commissioners
Item Number: 16.J.3
Doe ID: 20661
Item Summary: Report to the Board regarding the investment of County funds as of the quarter
ended September 30, 2021.
Meeting Date: 12/14/2021
Prepared by:
Title: — Clerk of the Circuit Court
Name: Erin Roxberry
11/17/2021 3:18 PM
Submitted by:
Title: Senior Staff Assistant — Clerk of the Circuit Court
Name: Jennifer Milum
11/17/2021 3:18 PM
Approved By:
Review:
Clerk of the Circuit Court
Office of Management and Budget
County Attorney's Office
Office of Management and Budget
County Manager's Office
Board of County Commissioners
Derek Johnssen
Additional Reviewer
Debra Windsor
Level 3 OMB Gatekeeper Review
Jeffrey A. Klatzkow Level 3 County Attorney's Office Review
Susan Usher
Additional Reviewer
Mark Isackson
Level 4 County Manager Review
Geoffrey Willig
Meeting Pending
Completed
11/17/2021 3:25 PM
Completed
11/17/2021 3:56 PM
Completed
11/18/2021 9:51 AM
Completed
11/29/2021 9:05 AM
Completed
12/07/2021 1:19 PM
12/14/2021 9:00
AM
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