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Alamance County reports $181 million in cash and investments; $6.2 million interest earned over six months
Summary
At the June investment briefing, county finance staff said the county had about $181 million in combined cash and invested funds across all county funds and recorded roughly $6.2 million in interest income for the six-month period; commissioners asked about investment terms and risk limits.
County Manager introduced the June 2024 investment report and directed questions to finance staff, who explained the figures and answered commissioners’ inquiries.
Finance staff said the reported $6,225,000 on the report is interest earned over the six-month period covered by the document and that the $181,000,000 figure represents the total of cash and investments across all county funds, including the general fund, emergency-telephone-service (E-911) fund and federal ARP funds.
"So the $6,200,000 that is the interest that was earned in that 6 months time," finance staff said. The staff explained that approximately $21.5 million remained in banks as immediate cash and the remainder was invested in short-term instruments and capital management trusts while maintaining liquidity, with an ability to convert to cash quickly.
Commissioners asked about maturity limits under the county’s investment policy; finance staff said the county does not typically hold securities past three years from the purchase date and that typical maturities were two to two-and-a-half years, with commercial paper and Treasury instruments used.
No further action was taken; commissioners praised the investment performance and asked staff to follow up on specific line-item questions outside the meeting.
