2020 IMPACT Report - Sarasota County, Florida

INVESTMENTS 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 the 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 2020 was $1.0 billion. During year 2020, the portfolio generated $17.6 million in interest income. The following graph is a breakdown of the portfolio by types of investments as of September 30, 2020. PORTFOLIO COMPOSITION LGIP 25.8% Treasuries 8.0% Fixed MBS 11.2% Cert. Deposit 2.6% Float MBS 14.0% Agencies 37.8% Cash 0.6% SARASOTA COUNTY PORTFOLIO COMPARED TO BENCHMARK In fiscal year 2020, the County portfolio, under the direction of the Clerk and Comptroller, maintained a weighted average yield of 1.18%. The following graph illustrates the County’s monthly portfolio yield in comparison to the 2 year U.S. Treasury during fiscal year 2020. Portfolio Yield 24 Month Average 0.0 0.5 1.0 1.5 2.0 2.5 2.05 % 10/2019 11/2019 12/2019 01/2020 02/2020 03/2020 04/2020 05/2020 06/2020 07/2020 08/2020 09/2020 2.05 % 1.97 % 1.61% 1.94% 1.57% 1.84% 1.31% 1.61% .91% 1.15% .25% .77% .20% .70% .16% .62% .15% .54% .11% .52% .13% .49% .13% SarasotaClerk.com 23