Cuyahoga County investment committee reviews cash flow, accepts portfolio; will reassess reinvestment after tax settlement

Cuyahoga County Investment Advisory Committee members reviewed a second-quarter fund and portfolio report and voted to accept the investment portfolio as presented, committee Chair and staff said.

The committee accepted the presentation after hearing county treasury staff and outside investment advisers describe current cash balances, expected real-estate tax receipts and uncertainties that counsel caution before locking funds into longer-term securities. Jed, a county treasury staff member, said Star Ohio held about $138,000,000 as of the end of the second quarter and that the county was projecting a year-end liquid balance of roughly $224,000,000, but that figure depended on the final real-estate tax settlement.

Why it matters: the committee must balance keeping cash available for county obligations with locking in elevated interest rates. Treasury staff and the county's adviser warned that reinvesting too early risks having to sell securities before maturity if cash needs materialize; waiting until after settlement would give a clearer picture of liquidity.

Treasury presentation…