A benchmark is a standard or measure used to analyze the allocation, risk, and return of a given portfolio. The S&P 500 index is often used as a benchmark for equities, while U.S. Treasuries are used for measuring bond returns and risk. The Average rolling 90-Day Treasury Bill rate is the benchmark used to evaluate the performance of the City’s investment portfolio. Due to the length of the weighted average maturity of the City's investment portfolio, the portfolio's yield will typically be below the benchmark in a period of rising interest rates.

*FY 2023 Forecasted
A rainy day fund is a reserved amount of money set aside, especially by a government, to be used during a time of revenue shortfalls or budget deficits in order for typical operations to continue.

*FY 2023 Forecasted
In investment, the bond credit rating represents the credit worthiness of corporate or government bonds. The ratings are published by credit rating agencies and used by investment professionals to assess the likelihood the debt will be repaid.

*FY 2023 Forecasted