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At the end of the quarter, the securities were held an average of 842 days or 28 months. <br />Currently, investment maturity dates are laddered through the end of 2016. It seems doubtful <br />rates will improve significantly in the near future so staff will continue to ladder short-term CDs. <br />If the rates rise, the City will be able to step up to the better rates with each maturity. <br />Staff provides Councilors the investment spreadsheet as an internal control procedure required by <br />the city's auditor. As always, staff is available to answer questions and provide the Council with <br />research related to the City's investments. <br />