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Scott County reviews $14 million in investments, asks municipal advisor for 3-week long-range plan
Summary
County fiscal court heard a review of its Schwab custodied investment account—market value $14,000,008.49 with a blended yield around 3.6%—and asked Compass Municipal Advisors for a draft long-range financial plan within three weeks to guide cash-vs.-debt decisions.
Scott County Fiscal Court on Tuesday heard a summary of the county's general fund investments and asked its municipal advisor to produce a draft long-range financial plan in roughly three weeks.
Michael George of Compass Municipal Advisors told the court that the county's Schwab custodied investment account is heavily weighted to U.S. Treasury securities and a Treasury-backed money market, with a reported market value of $14,000,008.49. He said the account is laddered with short durations to preserve liquidity and that the portfolio's blended yield is about 3.6 to 3.65 percent.
"The market value of the account is $14,000,008.49," Michael…
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