Manatee County School Board hears investment report; staff outline $230M school construction financing plan and tax anticipation note

Manatee County School District officials and outside advisors briefed the school board at a Sept. 16 workshop on the district’s annual investment report and on proposed 2026 financings, including a short-term tax anticipation note (TAN) and a possible certificates of participation issuance for capital projects.

Dominic Cristoforo, director of client advisory services for Deep Blue (the district’s investment advisor), told the board the district’s operating funds and bond proceeds combined to about $527.5 million in investments and that FY25 interest earnings were roughly $21.7 million. He said the portfolio is aligned with Florida statutory priorities—safety and liquidity first, return secondary—and that investments are high-grade and compliant with the district’s investment policy.

"Your investments are consistent with the principles of... safety and liquidity, and return being secondary," Cristoforo told the board. He added that, given recent market movement and expectations of Federal Reserve actions, interest-rate conditions remain volatile.

On short-term cash management, staff said they will present a resolution that evening to…