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continue to decline. Unfortunately, Property Tax will see another decrease this year as properties <br /> have seen another decrease in the assessment of value. <br /> Finance Committee accepted the report <br /> 3. Discussion Regarding Investment Report FYE 2009 -10 <br /> Budget and Compliance Manager Perini provided an overview of the City's portfolio and <br /> explained that the value was approximately $91.2 million. Of this amount, $63.5 million is in <br /> the Local Agency Investment Fund (LAIF) and $27.8 million is in the Chandler Asset <br /> Management program. The Chandler Investment Report indicates that the City is in compliance <br /> with all provisions of the City's Investment Policy. Perini focused on the overview and informed <br /> the Committee that the strategy recommended by Chandler will to continue to gradually lengthen <br /> the average maturity of the portfolio to capture higher interest rates. <br /> Finance Committee accepted the report <br /> 4. Committee Member Comments <br /> The Committee took a moment to thank Perry Carter for all of his hard work and assisting the <br /> City through the difficult economic situations they have seen over the last three years. Carter <br /> also thanked the Committee for their kind words and for supporting staff. Carter also thanked <br /> staff for their continued hard work. <br /> 5. Public Comments <br /> None <br /> 6. Adjourn <br /> The meeting was adjourned at 4:21 p.m. <br />