Commissioners approve investment-advisor recommendations; staff told to review upcoming CD roll

The Seminole County Board of County Commissioners voted unanimously on Feb. 25 to implement the recommendations offered by the county's investment advisor following a market briefing that emphasized the Federal Reserve’s pause, inflation dynamics and upcoming maturities.

Scott McIntyre, the county’s investment advisor, told commissioners that the Fed had held rates steady and that market direction will depend on trade and tariff outcomes, inflation trends and upcoming economic releases. McIntyre said his recommendation is to watch upcoming security maturities — notably a bank certificate of deposit maturing March 11 — and either roll into favorable longer-term yields or place funds into Florida Prime pool rates that were near 4.5 percent and fully liquid.

Portfolio context: McIntyre said the county’s average portfolio maturity had been extended significantly (he reported an average maturity of about 428 days), with roughly 83 percent of the portfolio locked into fixed rates and 17 percent floating. He recommended reviewing yields when these securities mature and evaluating the clerk’s options to roll into attractive yields or leave funds in liquid pool products.

Commissioner Lockhart moved to implement the advisor’s recommendations and direct the clerk to implement the changes. The motion was seconded, and the board voted unanimously to approve the action.

McIntyre told the board he expected pool rates to remain near 4.5 percent and that rate cuts by the Fed were not likely before midyear; he advised staff to monitor market conditions and bring options back when maturities occurred.