Lake County sees solid returns on investments in 2024

WAUKEGAN – Lake County Treasurer Holly Kim announced that fiscal 2024 ending Nov. 30 is on track to be another record-breaking year in investment income.

This follows fiscal 2023, which brought in close to $23 million in investment income. The results reflect a combination of strategic asset allocation, innovative investment strategies and a continued commitment to risk management, according to a news release.

Even with the uncertainties of today’s economy and the anticipation of lower interest rates, fiscal 2024 should match or exceed the 2023 amount in investment income. Kim’s office is expected to close out the year generating at least $24 million in investment and bank interest earnings. This means for every $1 that is allocated to the Lake County Treasurer’s budget, the office returns $16, according to the release.

“I am committed to bringing in the highest investment for the residents of Lake County,” Kim said in the release. “My office is focused on making strategic investments that alleviate the need for tax increases no matter how the economy is fluctuating. I am proud to be fiscally responsible and deliver another record investment yield for the residents of Lake County.”

Even with the market forecasting an additional 100 basis point drop in interest rates over the next year, the office’s portfolio is well positioned to benefit from a rate-declining environment as Kim has locked in much higher interest rates over the past year. Kim, always acting as a responsible steward of Lake County funds, will continue to maximize income over time given various opportunities in the marketplace.

Even with the market forecasting an additional 100 basis point drop in interest rates over the next year, the office’s portfolio is well positioned to benefit from a rate-declining environment as Kim has locked in much higher interest rates over the past year. Kim will continue to maximize income over time given various opportunities in the marketplace, according to the release.