Region’s investment program delivers ‘strong’ results
York Region’s “strong investment program” continues to outperform municipal industry standards and generate excess returns, according to York Region Chairman and CEO Eric Jolliffe.
“Achieving investment objectives while consistently keeping both credit and term risk exposures at prudently low levels demonstrates fiscal responsibility and accountability to York Region residents,” he says.
His comments follow York Regional Council receiving an overview of 2024 Investment Activities and Performance as required by the Municipal Act, 2021 and the Region’s Investment Policy. The report shows 2024 investments met the requirements of investment policies approved by Regional Council and the Sinking Fund Committee, the Region notes.
In 2024, York Region General Fund and Sinking Fund investment portfolios had a combined total value of about $7.57 billion. The General Fund, made up of investments held for reserves and reserve funds, working capital and other funds of the corporation, earned $219 million on average investments of $5 billion, representing a realized rate of return of 4.38 per cent.
Total return was 5.98 per cent, which exceeded both the Financial Times Stock Exchange/Standard and Poor’s (FTSE/S&P) Index and ONE Investment Program benchmarks by 1.83 per cent and 0.84 per cent respectively, according to the report. The Sinking Fund, used to repay the principal amount of a debenture upon its maturity, earned $46 million on average investments of $1.4 billion, representing a realized rate of return of 3.25 per cent.
“The global impact of tariffs and inflation on financial markets has triggered economic uncertainty across our communities,” says Township of King Mayor Steve Pellegrini, chair of Finance and Administration. “York Region’s Fiscal Strategy helps ensure the Region’s long-term financial sustainability through responsible management of the capital plan, reserves and debt, while also balancing the needs of current and future taxpayers to respond to economic changes.”
The Region will monitor ongoing market conditions to maintain a slightly elevated cash balance and make selective investments with varying terms for the remainder of 2025, in accordance with the Region’s Investment Policy, the Region reports. To learn more about York Region’s financial information, visit york.ca/Finance.