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Treasurer reports near $3 million in interest income for 2024; county investment posture shifts toward higher-yield CDs
Summary
Wichita County Treasurer presented year-end treasury and investment reports showing nearly $3 million in interest income for 2024, details on long-term debt payoff and an investment strategy favoring laddered CDs and liquidity.
Wichita County’s treasurer told the Commissioners Court that the county earned nearly $3 million in interest in 2024 and outlined recent shifts in the county’s investment strategy to favor short maturities and higher-yield certificates of deposit.
"The total amount that we earned in interest from those three was $2,986,799," Mr. Jones, the county treasurer, told commissioners while reviewing the December 31, 2024 report and the February 28, 2025 update. He said the revenue from interest and long-term investments has become one of the county’s larger non-tax revenue sources.
Jones and staff noted several items of interest: the last funds borrowed to pay for the Law Enforcement Center (LEC) have been spent and that the TCCU loan is now paid off; the LEC bond remains as the primary outstanding debt obligation. The county’s cash and invested balances dipped during 2024 but improved with tax receipts in early 2025. Jones said that American National accounts, Texas CLASS and TexPool remain key liquidity locations and that current rates have made active management of balances profitable.
In the investment report, staff described a deliberate move away from longer-weighted agency bonds purchased in earlier years toward more laddered positions and CDs where recent rates are higher. The county’s weighted average maturity for portfolio-held securities has been reduced to increase liquidity and reduce market-risk exposure.
Commissioners asked about market conditions and timing for moving funds; Jones said staff are monitoring pool rates and will continue to prioritize liquidity given payroll and operating needs. No formal action was required; these were received as information for the court.
