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Financial advisers say county can safely invest idle funds to boost revenues; recommend phased plan
Summary
Davenport & Company told the Southampton County Board that analysis of operating balances and cash flows identified roughly $7 million in funds that could be conservatively invested through the county's VIP account to generate an estimated additional $600,000 in investment income over a multi-year period; Davenport recommended phased implementation and quarterly reporting to the board.
Financial adviser Davenport & Company presented a strategic investment review to the Southampton County Board on Feb. 24, saying a multistep analysis of bank statements, cash flows and current investment vehicles found opportunities to "put more money to work" without risking principal.
Roland Kooch (Davenport) described a five-step analytical and implementation process that involved assessing operating account liquidity, forecasting projected…
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