2019 IMPACT Report - Sarasota County, Florida

SarasotaClerk.com 23 S arasota County’s Investment Policy was established by ordinance in 1989, and amended as recently as 2018. The Clerk and Comptroller, serving as Treasurer, invests Sarasota County’s money in accordance with the written investment policy. The Investment Policy stresses safety of capital as the highest priority. To ensure the safety and protection of the public’s assets, the weighted average duration of principal return shall be less than two years. The portfolio consists of securities that strive to maximize the return on investments by actively managing and diversifying into both callable and non-callable securities. The portfolio is structured to provide liquidity to pay current obligations. Sarasota County’s Investment Policy and Monthly Investment Summary Reports can be found on the Clerk and Comptroller’s website, SarasotaClerk.com. The Clerk and Comptroller monitors and diversifies the portfolio to safely generate the highest yields possible. Sarasota County’s total average portfolio balance for year 2019 was $970.5 million. During year 2019, the portfolio generated $22.9 million in interest income. The following graph is a breakdown of the portfolio by types of investments as of September 30, 2019. PORTFOLIO COMPOSITION LGIP 24.2% Cert. Deposit 6.5% Fixed MBS 11.1% Treasuries 2.2% Float MBS-GNMA 17.9% Float MBS 6.2% Agencies 30.9% Cash 1.0% INVESTMENTS 0.0 0.5 1.0 1.5 2.0 2.5 3.0 SARASOTA COUNTY PORTFOLIO COMPARED TO BENCHMARK Portfolio Yield 24 Month Average In fiscal year 2019, the County portfolio, under the direction of the Clerk and Comptroller, maintained a weighted average yield of 2.51%. The following graph illustrates the County’s monthly portfolio yield in comparison to the 2 year U.S. Treasury during fiscal year 2019. 2.78% 10/2018 11/2018 12/2018 01/2019 02/2019 03/2019 04/2019 05/2019 06/2019 07/2019 08/2019 09/2019 2.87% 2.73% 2.79% 2.64% 2.49% 2.64% 2.46% 2.63% 2.51% 2.60% 2.26% 2.58% 2.27% 2.50% 1.92% 2.31% 1.76% 2.32% 1.87% 2.14% 1.50% 2.19% 1.62%