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COUNCIL COMMUNICATION <br />TO: MAYOR AND CITY COUNCIL <br />FROM: MALCOLM FLEMING <br /> CITY MANAGER <br />DATE: JUNE 14, 2010 <br />SUBJECT: CASH & INVESTMENTS AT MAY 31, 2010 <br />ORIGINATING <br />DEPARTMENT: FINANCE <br />SUMMARY: <br />Attached is the May 31, 2010 report from Davidson Fixed Income Management, the City’s <br />investment advisor. As of May 31 2010, total cash and investments amounted to $35.2 million. <br />The average rate of return on total cash was approximately 1.8% <br />The following two charts summarize the distribution of all cash and investments and the <br />average rate of return over a period of time, from December 2009 through March 2010. <br />SUBJECT AGENDA ITEM <br />Cash & Investments at May 31, 2010 <br />