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Cocoa council hears FY2024 investment report as city captures higher yields amid late‑2024 volatility
Summary
City finance staff and advisor Public Trust Advisors told the Cocoa City Council on Jan. 28 that conservative portfolio choices and reinvestment captured higher yields in fiscal 2024, boosting interest income and keeping the portfolio compliant with Florida law.
The Cocoa City Council on Jan. 28 heard an annual investment report for the fiscal year ended Sept. 30, 2024, from Finance Director McNeese Bowman and John Grady of Public Trust Advisors.
The presentation said the city’s investment program — structured for safety of principal, liquidity and yield — benefited from volatile but rising interest rates late in 2024. John Grady, Public Trust Advisors, summarized national economic data and said the city captured higher yields on maturities reinvested during the year.
Grady told council that third‑quarter 2024 GDP measured 3.1 percent and that the most recent December CPI reading was 2.9 percent. He said short‑term…
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