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Advisor reports about $3.1 million in investment income so far this fiscal year for Council Rock SD
Summary
Cornerstone reported roughly $3.1 million in portfolio income for the district’s general fund through Dec. 31, 2024, below the $5.5 million target but noted strong short‑term yields tied to prevailing Fed rates; the committee had no questions and thanked the presenter.
Kevin of Cornerstone presented the district’s cash‑flow summary and yield analysis for the fiscal period ending Dec. 31, 2024, telling the committee that the general fund had earned about $2,991,000 and “So total income for the first 6 months of the calendar year is about 3,100,000.0.”
Kevin explained the district’s holdings are diversified across treasury‑backed money markets, short bonds and deposits at multiple institutions to spread custodial risk and capture short‑term yield. He walked the committee through the yield curve, market pricing of expected Federal Reserve moves, and how slower Fed cuts could raise income for short‑term high‑quality investments.
Committee members had no substantive questions and thanked Kevin for the presentation. The district’s budget target for investment income remains $5.5 million for the fiscal year; staff said they will continue regular reporting to the finance committee.
