Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Madison County treasurer shifts $7 million into short-term CDs amid portfolio review
Summary
The county treasurer reported moving $7 million into short-term (30- and 60-day) certificates of deposit at about 3.5%, reducing the previously reported liquid balance; the Investment Council accepted the report by roll call.
At the Madison County Investment Council segment of the June 30 meeting, the treasurer reported that a previously reported holding of about $17 million had been partially reallocated: $7 million was moved into short-term certificates of deposit (30- and 60-day CDs) yielding roughly 3.5 percent, leaving the remaining balance in previously reported accounts.
The treasurer said the report otherwise matched earlier statements and described the CD purchases as a short-term cash-management action. A motion to accept the investment report was moved, seconded and approved on roll call by council members.
Why it matters: reallocating county cash into short-term CDs can modestly increase interest income while retaining liquidity; the move will be reflected in future investment reports and cash statements presented to the council and commissioners.
