DEPARTMENT: Finance
FILE TYPE: Regular Information
TITLE
title
Update On Year End Dakota County Investment Portfolio 2024
end
PURPOSE/ACTION REQUESTED
Receive an update on Dakota County’s investment portfolio.
SUMMARY
Dakota County investments are made in accordance with Minn. Stat. Ch.118A governing the investment of public funds, and in conformance with the County’s Investment Policy 2254. The County’s investments are comprised of various sources of revenues and fund balances (Attachment - 2024 Investment Report). The portfolio fluctuates throughout the year especially during the tax collection seasons. The portfolio pools assets from various Dakota County funds to optimize liquidity and returns, and at times, includes funds held by the County on behalf of other public entities (property tax collections held prior to settlement with cities, schools, and townships).
The interest earnings in 2024 are $19.1 million. This is a 28% increase from 2023. The market values of the portfolio have increased by $7 million. Funds were invested in the Minnesota Association of Governments Investing for Counties Fund (MAGIC fund) to take advantage of historically high interest rates and tax distribution payment timing.
RECOMMENDATION
recommendation
Information only; no action requested.
end
EXPLANATION OF FISCAL/FTE IMPACTS
☒ None ☐ Current budget ☐ Other
☐ Amendment Requested ☐ New FTE(s) requested
RESOLUTION
body
Information only; no action requested.
end
PREVIOUS BOARD ACTION
None.
ATTACHMENTS
Attachment: 2024 Investment Report
Attachment: Presentation Slides
BOARD GOALS
☐ A Great Place to Live ☐ A Healthy Environment
☐ A Successful Place for Business and Jobs ☒ Excellence in Public Service
CONTACT
Department Head: Paul Sikorski
Author: Leng Vang