Romulus City Council Study Session 10-12-26

Romulus City Council held a special study session on October 12, 2026, to review the quarterly investment report for the quarter ended June 30. The city treasurer and PFM Asset Management presented the city’s investment portfolio, reported at approximately $38 million. The portfolio’s average yield at cost was 4.20%, compared with a 4.17% yield at market; the quarter’s total dollar return was about $158,000, and accrued-basis earnings were about $400,000. The presentation also covered economic conditions and portfolio performance relative to benchmarks.

The portfolio changes discussed included increasing commercial paper from 5.1% to 7.5% of holdings and adding commercial paper and longer-dated U.S. Treasuries, while reducing agency commercial mortgage-backed securities. Council approved the meeting agenda and voted to adjourn; no contract award, procurement approval, or spending motion was identified.