Treasurer’s office and METER report portfolio health; $60M moved into treasuries, $117M to mature by year‑end

Cuyahoga County staff and investment adviser METER told the county’s Investment Advisory Committee that the county’s portfolio is in compliance with policy, with roughly $1.1 billion invested and cash-flow plans in place to avoid forced sales at year‑end.

Staff reported that in August the county moved about $60 million from shorter-term cash into longer-term U.S. Treasury securities to lock in higher yields. “We did actually invest extra money in August — about $60,000,000 — we put over to fixed investments,” a staff presenter said, describing the decision as a preemptive move given expectations that interest rates would decline.

Committee members and staff discussed cash projections and liquidity. Presenters said about $117 million in instruments will mature between now and the end of the year; staff confirmed that a $2 million maturing Israel bond is included in that total. The Star Ohio account balance was cited at about $140 million as of the end of the quarter, and staff said the county still expects to carry roughly $120 million in cash on a normal cycle, with a low ebb at year‑end.

METER’s market outlook presentation said the Federal Open Market Committee cut policy rates by 0.25 percentage point in September and signaled further easing next year, which has already driven some shorter-term yields lower. METER said the environment still offers attractive fixed-income yields compared with historical levels.

The committee also reviewed special funds: staff said the county’s opioid settlement portfolio began with $60 million and has earned about $5 million in interest while the county awaits final decisions on program use. Presenters said the portfolio remains fully compliant with policy.

Ending: Presenters answered committee questions on reinvestment strategy and liquidity; no formal change to the county’s investment policy or allocations was proposed during the meeting.