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Treasurer reports May cash reconciliation and recommends shifting some holdings to Montana STIP
Summary
The treasurer reported on May cash reconciliations, noted a shift in tax receipts around the June 1 deadline, and recommended moving part of county investments into the Montana STIP to earn higher interest.
The county treasurer (speaker 13) presented the May cash reconciliation and an investment update, noting that some CDs are rolling and current yields are between about 4.2% and 4.55% for available securities. The treasurer told commissioners that tax receipts shifted into June (the tax deadline) and that the county has collected more than $1,000,000 since June 1. "We've collected well over 1000000 dollars since the June 1," the treasurer said.
The treasurer recommended moving some funds from the countys investment account into the Montana State Investment Pool (STIP) for higher rates and liquidity, and discussed laddering maturing securities. Commissioners asked clarifying questions about cashflow and how changes might affect departmental accounts; the treasurer said liquidity would be preserved for operational needs and recommended a modest reallocation to improve yield.
The board debated and then approved an investment authorization motion later in the agenda.
