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Ada County treasurer reports $10 million year-to-date interest; portfolio yield near 3.93%
Summary
Ada County Treasurer’s Office reported a July portfolio update showing a year-to-date interest rate of about 3.93%, roughly $880,000 interest for the month and about $10 million received year-to-date; half the county portfolio is held in LGIP.
Ada County Treasurer Beth Mah and banking and finance manager Rob Brown presented the county’s July investment report to the Board of Commissioners, reporting a year-to-date portfolio yield of about 3.93% and $880,000 in interest for the month.
Brown told the board that the county’s total interest received for the fiscal year-to-date is about $10 million, and the portfolio produced roughly $880,000 in interest in July. He said there were no maturities or purchases for the month and that roughly half of the county’s portfolio — about $175 million — is invested in the state Local Government Investment Pool (LGIP), which was earning about 4.3% in the report. Money market holdings were earning roughly 4.1%.
Brown reviewed broader market context: Federal Reserve action in July held rates steady; revised jobs data and a June CPI figure contributed to market movement. He said markets were pricing in the possibility of a 25-basis-point Fed rate cut in September and that the treasurer’s office continues to monitor the portfolio with investment managers and advisers.
