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Treasurer: county investment portfolio up after youth sports bond; earned 3.81% in June
Summary
Chief deputy treasurer Tyler White reported June portfolio par value $189.39M, market value $188.10M, month earnings $559,865.70 (3.81% effective rate), and said a large June increase reflected investment of proceeds from the youth sports facility bond (~$40M).
Tyler White, chief deputy treasurer, told the board the county's investment portfolio held a par value balance of $189,393,531.27 and a market value of $188,104,345.26 as of June 30.
"For the month of June, our portfolio earned $559,865.70 on an average daily balance of $178,763,554.77," White said, calling the effective rate of return 3.81%. He attributed the large month‑to‑month increase in portfolio value to investment of proceeds from the youth sports facility bond, which he said was "over $40,000,000 invested into that" project and will be paid out as construction is completed.
White explained that mark‑to‑market variance ($1,289,186.01) only affects the county's bottom line if assets are liquidated and that the county's strategy is to hold instruments to maturity to avoid realized losses. He also summarized inflation indicators and warned energy price volatility tied to international events could push inflation higher.
Commissioners asked clarifying questions about the share of interest earnings attributable to the general fund, the impact of the youth sports facility bond on ratios, and how these figures affect budgeting.
