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Ada County treasurer reports $252 million in tax collections, flags LGIP sensitivity to Fed rate cuts
Summary
Ada County Treasurer’s Office reported roughly $252 million in tax collections to be distributed, noted that about $51 million will go into the Local Government Investment Pool (LGIP), and cautioned that LGIP yields could fall if the Federal Reserve lowers rates.
Ada County Treasurer Bev Moss and Treasury staff reported during the commission’s July 15 meeting that the county will distribute approximately $252 million in tax collections for the period and that roughly $51 million of that will be added to the county’s Local Government Investment Pool (LGIP).
Tim Klein, speaking for the treasurer’s office, said the LGIP’s current yield to maturity is about 4.356 percent and that the county’s money market yield is about 4.147 percent. He told commissioners that if the Federal Reserve cuts rates — potentially in September…
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