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Trumbull County treasurer and manager report stronger investment income, committee accepts Q2 report
Summary
Treasurer Augustino Ragazino and investment manager Jim McCourt told the Trumbull County Investment Advisory Committee the securities portfolio produced roughly $2.18 million in realized income in the first half of 2026 and they project about $4.75 million for the year; the committee voted to accept the Q2 report.
Treasurer Augustino Ragazino and portfolio manager Jim McCourt presented the Investment Advisory Committee with the second-quarter 2026 investment report and a strategy update, saying recent market moves have increased the county’s projected investment income.
Jim McCourt told the committee the securities portion of the county’s managed portfolio is “right about a $148,000,000,” held in third-party custody at U.S. Bank, with a weighted average maturity near 2.5 years. He said the portfolio produced about $2,179,000 in realized cash investment income in the first six months and projected roughly $2,600,000 more over the next six months, yielding an estimated ~ $4.75 million in cash realized investment income for 2026 from the securities held at U.S. Bank.
“Right around the end of last year…rates were down more in the 3.5 percent range, now they’re up in, like, the 4.20 to 4.40 range,” McCourt said, describing how reinvestment of maturing bonds into higher-rate securities will boost income as maturities roll.
Chair and Treasurer Augustino Ragazino described how the county transfers collections among operating and liquidity accounts before investing: he said he will move excess collections to reach target liquidity levels and then place additional funds into Star Ohio and longer-duration securities to maximize yield. The committee moved to accept the 2nd-quarter investment report and recorded a roll-call vote in favor.
