Monroe County board approves 2025 public funds investment policy; treasurer reports $8.7 million in interest in 2024

The Monroe County Board of Finance on Feb. 1 approved the county's public funds investment management policy for 2025, and Monroe County Treasurer Catherine Smith presented the county's 2024 investment report, which reported about $8.7 million in interest for the general fund.

Smith told the board that the policy is prepared by the three county commissioners working with the treasurer and that, while the written policy allows U.S. Treasury securities with maturities up to five years, she prefers to keep county investments at maturities of two years or less while she is in office.

The move matters because interest earnings help populate the county general fund, Smith said, and the board's approach emphasizes safety and liquidity over return. "The investment policy clearly says the order that we do things in which is first safety second liquidity and third return," Smith said.

Smith said the county will shift remaining older securities into cash and short-term instruments as they mature. She reported two securities…