As the clock struck noon on February 6, 2025, the Ketchikan Gateway Borough's Investment Advisory Committee convened, ready to delve into the financial strategies that safeguard the community's funds. With attendance confirmed and the meeting streaming live, the committee quickly moved through the agenda, highlighting the importance of transparency and prudent investment practices.

Charlene Thomas, the borough's finance director, presented a detailed update on the investment earnings and allocations from the previous fiscal year. The figures were promising: the borough earned $1.3 million in interest on investments for fiscal year 2024 and was on track to match that figure in the current year, having already accrued $647,000. The committee's investment strategy focuses on three primary areas: laddered certificates of deposit (CDs), a Wells Fargo money market fund, and the Alaska Municipal League Investment Pool (AMLIP).

The laddered CDs, which mature at intervals of three to five years, have been yielding rates over 4.3%, with all investments under $500,000 being FDIC insured. The Wells Fargo money market fund, while higher risk, has also performed well with an annual yield of 4.2%. Meanwhile, the borough's investments in AMLIP provide a safe option for short-term investments, with the first series yielding 4.47% and the second series, which was recently adjusted, yielding 4.34%.

The committee members expressed appreciation for the finance director's proactive management of the investments, particularly her decision to transfer funds between the AMLIP series to optimize returns. They emphasized the importance of preserving principal as the top priority in their investment policy, a crucial point for the public to understand as they compare personal investment strategies with those of the borough.

As the meeting drew to a close, the committee reaffirmed its commitment to maintaining a conservative investment approach, ensuring that the public's money is handled with the utmost care and transparency. With no further comments from the public, the meeting adjourned, leaving the community assured that their financial interests are in capable hands.