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Madison County Investment Council accepts report; treasurer reports $12 million reinvested in CDs
Summary
The Madison County Investment Council voted unanimously to accept its latest investment report. Treasury staff reported reinvesting about $12 million in certificates of deposit with maturities of one to three years, yielding roughly 3.5%–3.75%.
The Madison County Investment Council unanimously accepted the treasury report presented at the meeting. Council members approved the minutes from the December 30 meeting and then voted to accept the investment report as presented.
Stacy, speaking for the treasury function, said she had reinvested roughly $12 million in certificates of deposit with maturities between one and three years and interest rates in the neighborhood of 3.5% to 3.75%. She said maturing CDs had generally been rolled over when the county had funds available.
Council members moved and seconded the motions to approve the prior minutes and to accept the report; roll-call responses were recorded and the measures passed. No additional actions or reallocations were recorded during the meeting; the council recessed until 10:00 a.m. after completing the morning agenda.
The report indicates the county is using short- to medium-term CDs to manage liquidity while earning higher short-term yields than had been available earlier in the year.
