Routt County Treasurer Lane and investment advisor Chandler Asset Management presented a quarterly economic update and a review of the county’s investment portfolio during the Oct. 20 work session, reporting that the county’s portfolio outperformed its 0–3 year benchmark and remains laddered to meet near‑term liquidity needs.

Scott Pritchett, co‑chief investment officer at Chandler, and associate portfolio strategist Kyle Perry delivered an overview of national indicators and what they mean for the county’s holdings. Chandler told commissioners that growth is expected to cool through 2025, inflation has moderated but remains above pre‑pandemic norms, and the labor market shows signs of softening. The firm said the Federal Reserve was likely to continue data‑dependent rate cuts but to act cautiously.

On portfolio specifics, Chandler reported Routt County’s portfolio market value was about $83 million and cited an average maturity of 1.56 years and a modified duration of 1.47 years. The account’s weighted quality was AAA/AA+ and roughly 75% of assets were in U.S. Treasury securities with the remainder in agencies and a small commercial‑paper position. Chandler noted the portfolio’s structure emphasized 12–36 month maturities to lock in higher yields while keeping sufficient liquidity for known cash needs.

Performance metrics showed the county portfolio returned 4.13% over 12 months versus a 4.04% benchmark and 5.27% over two years versus a 5.20% benchmark. Since inception, Chandler reported outperformance versus the benchmark (1.74% vs. 1.69% annualized).

Treasurer Lane and commissioners discussed near‑term liquidity for planned capital projects, including an airport expansion. Lane said the office is coordinating timing of maturities with the county’s AP and payroll cycles and requested advance notice of large expenditures so investments can be managed without undue disruption. Lane also noted the county’s recent increase in investment income and said budget teams continue to be conservative when projecting interest income.

Commissioners asked about macro risks including tariffs, regional banking stress, and the potential impact of a prolonged government shutdown; Chandler said tariffs historically are inflationary, the full effects were still uncertain, and recent regional bank issues looked idiosyncratic rather than systemic. Chandler forecasted a steeper yield curve if the Fed cuts short‑term rates while longer‑term yields are held up by inflation expectations.

No policy changes were proposed at the session. The treasurer and Chandler said they would continue to manage the portfolio with a laddered approach and work with county staff on timing for anticipated capital draws.