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Investment committee recommends shifting to longer‑term securities; committee reviewed Q4 disbursements over $75,000
Summary
Polk County’s investment committee reported that the county portfolio rose about $600,000 since August and recommended moving liquidity from roughly 36% to about 20% into two‑year‑plus Treasury bills to lock in longer yields; the committee also reviewed fourth‑quarter disbursements above $75,000, including large payments related to a dam project.
Polk County’s investment committee presented its 2025 strategy and a quarterly review of large disbursements, recommending a move from short‑term holdings into longer‑term Treasury instruments and reviewing Q4 payments over $75,000.
Presenters told the committee the county portfolio increased by roughly $600,000 since early August and that liquidity had fallen from nearly 60% to about 36%. Investment advisors (PMA) recommended taking advantage of a normalizing yield curve by locking in multi‑year rates, moving target liquidity to about 20% and maintaining a $6 million monthly maturing balance to preserve access to cash. The committee approved that guidance and instructed transaction staff to execute the 2025 strategy.
Committee members also reviewed a Q4 list of disbursements over $75,000. Highlights cited by staff included a disbursement related to the Clam Falls dam project of about $930,000, a HealthPartners payment of about $1.7 million, and payments to contractor Lunda for dam work (about $1.3 million). Staff noted other capital payments included a mobile command center payment of about $788,000; the Q4 packet presented totals by vendor and by project or department for committee review.
The committee noted the rate environment has shifted from an inverted yield curve to one that rewards longer‑term holdings; presenters gave current T‑bill and 10‑year yields as context for the strategy. Committee members said they would bring any questions about Q4 disbursements to the next meeting.
