Insights

For many public entities, the last several years created an unusual environment. Federal funding expanded, liquidity was abundant, and strong short-term interest rates helped operating cash generate meaningful income with relatively little effort. Holding large balances in overnight structures often felt both safe and productive. That environment may be starting to change. As federal funding … Continued

When revenue feels uncertain, the instinct is to wait. Across many public entities, federal funding has become a more unpredictable piece of the overall revenue picture. Timing is less certain, policy direction is less clear, and assumptions that held a year ago are being revisited. In that kind of environment, holding reserves in overnight accounts … Continued

In a market where headline yields are hard to ignore, it’s easy to let a number make the decision for you. A higher rate on an unfamiliar product looks, at a glance, like a simple upgrade. But yield is only part of the story, and increasingly, it may be the part that leads you in … Continued

Each year, Texas municipalities receive significant cash inflows during property tax season, typically between December and March, driven in part by early payment discounts. These inflows often represent a substantial share of annual revenue and create temporary cash surpluses that, when managed strategically, can generate additional interest income while preserving liquidity for essential services such … Continued

Each year, Florida municipalities receive significant cash inflows during property tax season, typically between November and March, driven in part by ad valorem collections and early payment discounts. These inflows often represent a substantial share of annual revenue and create temporary cash surpluses that, when managed strategically, can generate additional interest income while preserving liquidity … Continued