ES-Quarterly Investment Report08/28/2018
EXECUTIVE SUMMARY
Report to the Board regarding the investment of County funds as of the quarter ended June 30,
2018.
______________________________________________________________________________
OBJECTIVE: To provide the Board a report regarding the investment of County funds as of the quarter
ended June 30, 2018.
CONSIDERATIONS: Florida Statute 28.33 provides for the investment of County surplus funds by the
Clerk of Courts. 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 and yield
graphs as of the end of the third quarter of FY-2018. The total managed portfolio at June 30, 2018 was
$796,742,166, at par value. For June 2018, Collier’s short-term yield exceeded the benchmark by .12%,
primarily due to investment in a certificate of deposit at Florida Community Bank and balances with the
Florida Prime Local Government Investment Pool. The Board’s Concentration (Operating) Account has
also been included on the chart and bears interest at 1.62% as of June 2018. In order to maximize yield,
only funds necessary to meet current Board obligations are kept in the Concentration Account. Over the
same period, the Collier portfolio’s long-term sector performance was .93% lower than the benchmark
due to the relative market volatility of the 1 to 3 year Treasury index yields upon which the benchmark is
based. The short overall maturity of the long-term investments sector, 1.40 weighted years to final
maturity, will allow Collier to take advantage of any future increases in yield whil e providing sufficient
liquidity for operations. There is no loss of principal associated with the performance to benchmark of
the long or short-term portfolio.
Approval of the following documents by the County Manager is subject to formal ratificatio n by the
Board of County Commissioners. If the decision by the County Manager is not ratified by that Board, the
document(s) shall be enforceable against Collier County only to the extent authorized by law in the
absence of such ratification by that Board.
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 acceptance of the report. -JAK
RECOMMENDATION: The investment report exhibits are provided to the Board as information only,
no action is required.
Prepared by: Derek M. Johnssen, Assistant Finance Director,
Office of the Clerk of the Circuit Court
ATTACHMENT(S)
1. June 30 2018 Investment Reports (PDF)
08/28/2018
08/28/2018
COLLIER COUNTY
Board of County Commissioners
Item Number: 4.A.1
Doc ID: 6424
Item Summary: Report to the Board regarding the investment of County funds as of the quarter
ended June 30, 2018.
Meeting Date: 08/28/2018
Prepared by:
Title: Senior Staff Assistant – Clerk of the Circuit Court
Name: Jennifer Milum
08/13/2018 4:01 PM
Submitted by:
Title: Senior Staff Assistant – Clerk of the Circuit Court
Name: Jennifer Milum
08/13/2018 4:01 PM
Approved By:
Review:
Clerk of the Circuit Court Derek Johnssen Additional Reviewer Completed 08/13/2018 4:26 PM
County Attorney's Office Jeffrey A. Klatzkow Level 3 County Attorney's Office Review Completed 08/14/2018 8:24 AM
Office of Management and Budget Valerie Fleming Level 3 OMB Gatekeeper Review Completed 08/14/2018 10:43 AM
Budget and Management Office Mark Isackson Additional Reviewer Completed 08/17/2018 9:44 AM
County Manager's Office Nick Casalanguida Level 4 County Manager Review Completed 08/27/2018 8:10 AM
Board of County Commissioners MaryJo Brock Meeting Pending 08/28/2018 9:00 AM