Luzerne County Seeks Investment Manager
For the first time, Luzerne County is looking for a firm to manage a short-term investment portfolio for the county’s general fund.
The county this week issued a request “to solicit information and proposals from any individuals who may be qualified and interested” in serving as the county’s investment adviser, county Manager David Pedri wrote in an email to county council.
This is the first year county administration plans to seek short-term borrowing, and liquidity of the funds is a priority, Pedri wrote.
The county administration hopes the short-term investments will add revenue to the county budget, according to Pedri.
County officials this year face tough decisions on whether to borrow millions of dollars to pay for two mandated equipment upgrades: a digital communications system for the county’s 911 emergency center, and new electronic voting machines that provide a “paper trail” for added security.
The deadline to submit proposals is 4 p.m. on Feb. 8.
For more information, see: https://www.luzernecounty.org/bids.aspx?bidID=150.
— ERIC MARK