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^' y,: TAX COL,L.ECTOR VEN.TU RA CO-UNTY* SUE Hi RGAN TREASURER - TAX COLLECTOR Maidlou Tan Assistant Treasurer Tax Collector Ventura County Board of Supervisors 800 South Victoria Avenue Ventura, CA 93009 SUBJECT: Receive and File Report of Investments, Including Market Values for Investments for the Month Ending April 30, 20240 FISCALIMANDATES IMPACT: None STRATEGIC PLAN PRIORITY* The item presented in this Board letter supports making responsibI4 and efficient use of public funds and promotes economic stability and growth during a changin economy, i This report covers the one-month period ending April 30, 20241 The average dai ly portfol io balance for Ap ril was $4.911 bi Ilion, a nearly 13% increase from Ma rch. Exhibit 3 shows the cyclical pattern of the portfolio balance and reflects the collection of the second installment of property taxes, the bulk of which was in April. The portfolio balance peaked at billion on April 29, 20-24. The Effective Rate of Return, net of administrative fees, for April was 4.52%, an increase from thi I I 1 1 �.41 % earned in March,, Indicatons from Federal Reserve Chair Jerome Powell are that rates ar likely to remat in athis lee vl for now until 'it becomes clear that inflationis within acceptable levels. I If the current portfolio 'Investments are all held to matun'ty, the portfolio's gross approximate yield io maturity would be 4.61 %. - April's net earnings were $18,465,857, a nearly $2 mill -ion increase from March due to the larger portfolio balance and the higher rate of return. The weighted average days to maturity increased to 310 days, reflecting our strategy to 'Invest farther out the yield curve to take advantage of higher rates while they are available.. The interest - rate sensitivity measure of effective duration increased slightly to 0*738. Both numbers comfortably meet expectations for LGIP programs like ours. 111112WO q mw IF, 9,111.1 wwi�,(,vet�tu.rap,roportyte�x,.o�,q (805) 6-54-3734