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Will County finance committee hears investment review showing strong yields, upcoming maturities
Summary
County finance staff and Stifel presented a portfolio snapshot showing a weighted-average yield near 4.6%, roughly $6 million in annual income from invested reserves, and about $20 million in bonds maturing over the next 12 months; staff said ARPA funds ($~40M undrawn) are parked in money markets to preserve liquidity.
Tim Brophy and outside managers from Stifel briefed the Will County Finance Committee on the county’s investment holdings and near-term cash-management risks.
In a high-level overview, Brophy summarized the county’s structure of corporate funds (used for daily liquidity) and treasurer’s Class C funds (reserved for specific purposes). Stifel’s Jeff Ringstad told the committee their portion of the county’s portfolio is earning a 4.6% weighted-average yield: "Weighted average yield on those funds is 4.6%," he said, noting the county’s portfolios are performing above a peer average.
The nut of the presentation was that the county’s investment program is diversified and heavily government-backed. Ringstad said roughly 98% of the portfolio…
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