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Page 2 of 5 <br />• Fair Market Value of total portfolio - $225,865,252 <br />• Fiscal year-to-date effective rate of return - 1.54 percent <br />• Weighted average days to maturity – 549 days <br />• Fiscal year-to-date net interest earnings - $2,688,828 <br /> <br />Asset Composition: <br /> <br /> <br /> <br /> <br />As of March 31, 2024, the effective rate of return is 1.54 percent. <br /> <br /> <br /> <br />As reported previously, the Federal Reserve (the Fed) has been raising interest rates since <br />March 2022. In 2022, the Fed raised rates 7 times for a total of 425 basis points. In 2023, the <br />Fed raised another 100 basis points in total, resulting in even higher comparative market <br />rates. Most of the securities in the City’s investment portfolio were purchased before the rate <br />hikes, and the overall investment return is expected to be lower than the market rates in the <br />Page 209 of 720