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Lake County hears portfolio review showing large cash balance and rising yields
Summary
An outside adviser reviewed Lake County's investment portfolio, reporting $298 million in cash (including bond proceeds), a $279 million securities portfolio with a 3.7% weighted average yield and reinvestments earning roughly 4.59%. No formal action was taken.
Eileen Stanek, an adviser from Demeter Public Funds, told the Lake County Investment Advisory Committee on Jan. 9 that the county ended the year with a large cash position and improving yields.
"At year end, we ended the year with 298,000,000 in cash," Stanek said, adding that when bond proceeds and engineering/utility funds are excluded the cash balance is closer to $115,000,000–$120,000,000. She said the securities portion of the portfolio totaled $279,000,000 and carried a weighted average yield of 3.7%, up from 3.45% the prior quarter.
The presentation…
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