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Commissioners approve finance advisor's recommendation to deploy $30 million of maturing funds into 2027 maturities
Summary
After a remote presentation from the county's investment advisor, the board unanimously approved a plan to reinvest $30 million of maturing funds into three tranches targeting 2027 maturities as a hedge against projected rate declines.
Scott McIntyre, the county's investment advisor presenting remotely, reviewed recent Federal Reserve action and market moves and recommended reinvesting roughly $30,000,000 of maturing portfolio funds into three blocks of approximately $10,000,000 each with target maturities in 2027 (June, August and September windows). McIntyre said this approach would extend the portfolio's maturity and lock in yields while preserving liquidity for near-term needs.
"I'm recommending that we take $30,000,000 of these maturing funds, ... taking 3 blocks of 10 and going out into 2027," McIntyre said. Commissioners discussed alternative vehicles and asked staff to check with the clerk on cash-flow timing. Commissioner Constantine asked staff to look into a reported Florida Trust 12‑month product offering a higher yield; McIntyre cautioned the board to evaluate the investment's composition.
Commissioner Gallari moved to implement the recommendation and to have the clerk carry out the board's instruction; the motion was seconded and passed unanimously.
