Sarasota County’s Investment Policy was established by ordinance in 1989 and amended as recently as 2023. The Clerk and Comptroller, serving as Treasurer, invests the County’s money in accordance with the written investment policy. The Investment Policy stresses safety of capital as the highest priority. To ensure the safety and protection of the public’s assets, the weighted average duration of principal return shall be less than 2.5 years. The portfolio consists of securities that strive to maximize the return on investments by actively managing and diversifying into both callable and non-callable securities. The portfolio is structured to provide liquidity to pay current obligations. Sarasota County’s Investment Policy and Monthly Investment Summary Reports can be found on the Clerk and Comptroller’s website SarasotaClerk.com. The Clerk and Comptroller monitors and diversifies the portfolio to safely generate the highest yields possible. Sarasota County’s total average portfolio balance for fiscal year 2023 was $1.5 billion. During fiscal year 2023, the County earned $37.0 million in interest income. The following graph is a breakdown of the portfolio by types of investments as of September 30, 2023. INVESTMENTS Fixed MBS 8.9% Treasuries 9.9% LGIP 12.8% Agencies 63.7% Float MBS 3.8% Cash 0.9% PORTFOLIO COMPOSITION Sarasota Portfolio Yield 2 Yr U.S. Treasury Yield 0 1 2 3 4 5 6 Oct-22 Nov-22 Dec-22 Jan-23 Feb-23 Mar-23 Apr-23 May-23 Jun-23 Jul-23 Aug-23 Sep-23 4.24 4.48 4.38 4.31 4.58 4.43 4.55 4.20 4.96 4.82 4.67 4.03 4.84 4.01 5.17 4.40 5.32 4.90 5.40 4.88 5.42 4.86 5.53 5.04 Impact Report 2023 17 FPO In fiscal year 2023, the County portfolio, under the direction of the Clerk and Comptroller, maintained a weighted average yield of 4.92%. The following graph illustrates the County’s monthly portfolio yield in comparison to the 2-year U.S. treasury yield during fiscal year 2023. SARASOTA COUNTY PORTFOLIO COMPARED TO BENCHMARK
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