The Port of Houston Authority has been awarded another Certificate of Distinction for its investment policy by the Government Treasurers’ Organization of Texas (GTOT). The Port Authority first received a certificate in March 2013, and a renewal certificate in 2015. The latest Certificate is valid for a two-year period through February 2019.
GTOT sponsors an Investment Policy Certification Program designed to provide assistance to local governments in developing policies that fully comply with the Texas Public Funds Investment Act and to recognize outstanding examples of written investment policies.
A Certificate of Distinction is awarded for those policies that meet established criteria, including requirements relating to ethics disclosures, conflicts of interest, investment training, suitable and authorized investments, annual reviews by the governing body, as well as diversification and investment strategies.
GTOT congratulated the Port Authority for its commitment in maintaining a comprehensive written investment policy.
“We are honored to receive this recognition,” said Ray Yi, Senior Director of Treasury. “Team members Reginald Hart, Treasury Manager, and Trisha James, Treasury Analyst, help ensure full compliance with the policy goals of safety of principal, liquidity and yield, in that order.”
“To their credit, we have added significant value through competitive bidding. The latest weighted average yield of the portfolio has increased to 1.08 percent, which represents additional annual interest income of two million compared to the benchmark one‑year Treasury yield.”