Title
Vote to adopt a resolution to add the North Carolina Investment Pool as an official depository investment pool
Abstract
Introduction & Background: The North Carolina Investment Pool is duly authorized under North Carolina General Statute 159-30(c)(10) and is endorsed by the North Carolina Association of County Commissioners.
Discussion & Analysis: The North Carolina Investment Pool offers two investment options, the NCIP Liquid Portfolio and the NCIP Term Portfolio. The Liquid Portfolio is designed for daily liquidity while the Term Portfolio offers fixed rates on maturities ranging from 60 days to one year.
Adding the North Carolina Investment Pool will further diversify the County’s investment portfolio and may provide an opportunity for a higher rate of return, while maintaining a focus on safety, liquidity, and the competitive, professional management of public funds.
Budgetary Impact: n/a
Recommendation/Motion: Motion to adopt a resolution to add the North Carolina Investment Pool as an official depository investment pool.