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Catawba County Board votes to join two North Carolina short-term investment pools
Summary
To diversify its short-term portfolio and preserve daily liquidity, the Board approved a resolution authorizing participation in the North Carolina Investment Pool (NCIP) and the North Carolina Cooperative Liquid Assets Securities System (NCCLASS).
The Catawba County Board of Commissioners unanimously approved a resolution on April 7 authorizing the county to participate in two North Carolina local government investment pools: the North Carolina Investment Pool (NCIP) and the North Carolina Cooperative Liquid Assets Securities System (NCCLASS).
County staff said the move aims to diversify the county’s short-term investments within the constraints of N.C.G.S. 159-30 and to provide daily liquidity for efficient cash-flow management. Staff described NCIP as a short-term liquid portfolio rated AAAm by S&P and AAAmmf by Fitch, with assets under management around $1.1 billion and a weighted average maturity near 41 days. NCCLASS was described as similarly rated (AAAm) with about $840 million in assets and a maximum weighted average maturity under 60 days.
The resolution (No. 2025-10) authorizes the county’s chief financial officer, or a designee, to execute trust documents and any required papers to join the pools. Staff told the board participation would broaden the county’s options beyond its current concentration in U.S. Treasury and agency securities and NCCMT holdings.
The motion to place the resolution on the consent agenda passed and the consent agenda was approved unanimously.
