Burnaby had a $34.3 million return on its investments in 2011, with an annual yield of 5.05 per cent, according to a report from the director of finance, Denise Jorgenson.
The city's cash and investments on hand as of Dec. 31, 2011 totalled more than $529 million, up from $518.8 million in 2010, the report stated.
The city invests its money through the City of Burnaby Investment Fund, which includes development cost charges and city reserve funds.
Approximately $437 million is invested in long-term investments, while the rest is invested in shorterterm investments that mature within a year, Jorgenson added.
The city expects to make $34.5 million, with an annual yield of 5.10 per cent, on its investments in 2012. The current operating budget forecast is $6.8 million, with the rest of the funding going to reserve funds, according to the report.
