Travis County Commissioners Court
Tuesday, September 27, 2011 (Agenda)
Item 39
39 is consider and take appropriate action on request to approve order amending chapter 23, investment policy and procedures of the Travis County code.
>> this is reagan grimes, senior financial analyst.
there's a number of changes.
most of them are administrative changes to the chapter 23.
if you would like, I can go over some of the other changes also.
>> can you hit the significant ones for us?
>> we're adding security lending to the list of eligible investments and that is a part of the public funds investment act.
and this would give us the ability to lend out some of our securities.
we still will always maintain possession of them and it's a very short-term loan.
it's only considered overnight.
it could add a number of basis points to our yield.
the last time that the -- someone looked at the portfolio to see what the potential was to earn on the portfolio, we could potentially earn about $400,000 on an annual basis in addition to what we're already earning.
and with the interest rate environment being so difficult right now, especially when you are trying to earn money on it, I think this would be a great opportunity to add a little bit of yield to our portfolio.
the other items are pretty much administrative items that have -- are related to changes in the public funds investment act from this last legislative session.
there was some changes to collateralizing deposits and most of those were administrative as well as training and some wording, and that's pretty much the highlights.
>> court members, questions, comments?
amendments.
>> second.
>> discussion on the motion?
all in favor?
that passes by unanimous vote.
thank you all very much.
>> thank you.
>> thank you for the update.
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