Richmond

City of Richmond Reports Strong Investment Performance in 2023

Finance Committee Minutes
Date: 2024-02-05
finance



  • Investment Report: City of Richmond's cash and investment balance was approximately $1.69 billion as of December 31, 2023, with breakdown by issuer category.
  • Investment Performance: Overall weighted average investment yields for 2023 was 4.5%, with short-term funds earning an effective average annual yield of 5.6%.
  • Investment Policy: City's investment activities were conducted in accordance with Policy 3703, which requires compliance with statutory requirements of Community Charter.
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