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COUNCIL COMMUNICATION <br />TO: MAYOR AND CITY COUNCIL <br />FROM: MALCOLM FLEMING <br /> CITY MANAGER <br />DATE: MARCH 19, 2012 <br />SUBJECT: CASH & INVESTMENTS AT FEBRUARY 29, 2012 <br />ORIGINATING <br />DEPARTMENT: FINANCE <br />SUMMARY: <br />Attached is the February 29, 2012 report from Davidson Fixed Income Management, the City’s <br />Investment Advisor. As of February 29, total cash and investments amounted to $37.2 million, <br />approximately the same total as reported for January 31. The average rate of return on all <br />cash and investments was approximately 0.73% during February 2012. <br />The following chart summarizes the distribution of all cash and investments for December 2011 <br />through February 2012. <br />Scott Prickett, Davidson Fixed Income Management, the City’s Investment Advisor, will <br />be at the meeting to update the Committee on various issues related to the City’s <br />investments. <br />SUBJECT AGENDA ITEM <br />CASH & INVESTMENTS AT <br />FEBRUARY29, 2012 <br />6 <br />