The City of Auburn’s investment portfolio is in fine shape and had a total value of $8.4 million as of September 30, according to City Administrative Services Chief Andy Heath.

Heath said the portfolio’s $2.3 million drop from its mid-year value of $10.7 million was expected because the city spent heavily on capital projects and paid a hefty installment on the CalPERS pension bond debt.

The funding will be recouped and the total worth probably increased after the first of the year with the arrival of property tax  revenue and other revenues.

Heath added that at 4.67 percent interest the city is getting a good yield on its investments; a yield of 4.5 percent was predicted in the 2007-08 city budget.

As of the end of September, the investments looked like this:

— Fixed-rate Investments: U.S. government bonds, $7.33 million; corporate notes, $498,175.

— Pooled Investments: State pool and County of Placer pool, total of $68,314.

— Unrestricted Financial Institution Investments: total of $380,140.

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