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Ada County treasurer warns likely Fed rate cut will reduce investment income by millions
Summary
Ada County Treasurer reported the county is on track to meet FY25 interest estimates but forecasted a drop in investment income for FY26 to about $9.3 million if the Federal Reserve lowers rates as expected, reducing county portfolio yields by roughly $3 million compared with current year receipts.
BOISE, Idaho — Ada County Treasurer (Pittman) told the Board of Commissioners on Sept. 9 that while the county is close to meeting this fiscal year’s interest-income estimate, an anticipated Federal Reserve cut could reduce next year’s investment income by several million dollars.
The treasurer said the county has recorded roughly $11.3 million in investment interest 11 months into the fiscal year and expects to reach about $12 million for FY25. For FY26, the treasurer and staff independently forecast approximately $9.3 million in interest income, an estimated drop of roughly $3 million driven primarily by an expected 25-basis-point cut at the Fed’s next meeting.
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