Seminole County commissioners approved a motion to implement the county investment advisor’s recommendations for near-term portfolio reinvestments following a market briefing from Scott McIntyre.

McIntyre told the board that recent market pricing reduced the probability of a December federal funds rate cut compared with a month earlier and that federal economic data (including CPI reporting) had been delayed. “The fed cut rates, very recently, the big question is whether they're gonna cut in December and the market has kinda decided that they probably might not,” McIntyre said during his remarks, noting the outlook remains uncertain.

On portfolio specifics, McIntyre described rolling a large maturing certificate of deposit into a three-year instrument and positioning $10 million blocks in the two- and three-year sectors to match county cash-flow needs. He estimated the two- and three-year sector yields at roughly 3.60% and said the portfolio yield was about 4.28% in October and would be near “just under 4.20” after the proposed transactions.

A commissioner moved to implement the recommendations and direct the clerk to execute the board’s direction; the motion was seconded and approved by unanimous voice vote. The board did not request further amendments and directed staff to proceed with the reinvestment transactions consistent with the advisor’s recommendations.

No roll-call vote record or individual vote tallies were recorded in the meeting transcript.

The action authorizes staff to proceed with reinvestments intended to preserve expected cash-flow maturities and to pursue competitive bids where required; any future changes to long-term policy or material risk posture would return to the board for approval.