Madison County treasurer shifts $7 million into short-term CDs amid portfolio review

At the Madison County Investment Council segment of the June 30 meeting, the treasurer reported that a previously reported holding of about $17 million had been partially reallocated: $7 million was moved into short-term certificates of deposit (30- and 60-day CDs) yielding roughly 3.5 percent, leaving the remaining balance in previously reported accounts.

The treasurer said the report otherwise matched earlier statements and described the CD purchases as a short-term cash-management action. A motion to accept the investment report was moved, seconded and approved on roll call by council members.

Why it matters: reallocating county cash into short-term CDs can modestly increase interest income while retaining liquidity; the move will be reflected in future investment reports and cash statements presented to the council and commissioners.