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County accepts quarterly report on Millennium Capital Fund; portfolio valued at about $61.4 million
Summary
The board received a quarterly update from PFM Asset Management on the Millennium Capital Project Fund program; PFM reported a market value of about $61.4 million as of June 30, 2025, and discussed portfolio duration, benchmark construction and liquidity to meet annual appropriations.
VISALIA — The Tulare County Board of Supervisors received a July 22 presentation from PFM Asset Management on the Millennium Capital Project Fund program. PFM said the market value of the portfolio was about $61.4 million as of June 30, 2025, including $3.9 million in tobacco-settlement receipts deposited in April 2025.
Mike Crombetter, PFM relationship manager, summarized the fund’s background: the Millennium program began with refinancing of…
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