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District investments returned above benchmark in 2024, PFM tells Marion County School Board
Summary
PFM Asset Management presented the district's annual investment report, saying the cash-reserve portfolio outperformed its benchmark in the year ending June 30, 2024 and the calendar year 2024. Staff said portfolios comply with district policy and Florida statutes.
PFM Asset Management delivered Marion County Public Schools' annual investment report at the April 3 administrative work session, saying the district's cash-reserve portfolio outperformed its benchmark for both the fiscal year ending June 30, 2024 and the calendar year 2024.
The presentation matters because the district uses those reserves to fund capital projects and to smooth cash flow through the year. Better-than-benchmark returns increase available earnings without new tax revenue or budget cuts.
Richard Pengelly, managing director at PFM Asset Management, told the…
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