WARREN — Trumbull County Treasurer Agostino Ragozzino is seeking permission from Trumbull County’s Investment Advisory Committee to hire Meeder Public Funds to handle the long-term investments of the county’s assets.

Jim McCourt, director of advisory services for Meeder, told commissioners and members of the county’s Investment Advisory Committee that his company would advise the county to invest approximately 80% of its $195 million in long-term investments, leaving 20% to be used for day-to-day operations.

Tuesday’s presentation was part of a joint meeting of Trumbull commissioners and Trumbull’s Investment Advisory Committee.

“This was informational,” Commissioner Denny Malloy said. “We do not vote on whether the company will be contracted to represent the county.”

Meeder Public Funds, a Dublin, Ohio-based company with offices in six states, manages more than $165 billion for public agencies. It represents 40 Ohio counties, 100 school districts and colleges, and 85 cities, townships and villages in the state.

The company will act as an investment adviser for the county if it is hired.

“We manage more than 450 public entities around the country,” McCourt said. “We are the second-largest manager of public funds nationwide.”

Meeder represents 260 public entities in Ohio, including Warren, as well as Ashtabula, Mahoning and Portage counties.

“We are not a broker dealer,” he said. “We are not selling you bonds, which you have historically been doing. Our investment team will be working with all of the brokers, all over the county, to source and find the best bonds at the best price and execution to fit your investment strategy.”

The company, if hired, would work with the county treasurer’s office to understand Trumbull’s cash flow needs and to determine the appropriate amount to be invested into a long-term securities portfolio.

“Historically, I believe you have been too short-term and had too much concentration in cash,” McCourt said. “You have the ability to move into a more diversified portfolio.”

He noted that in recent years the county has made money through investments in high-interest vehicles. However, he warned that interest rates have begun to fall, which will decrease the amount the county earns.

“What we want to do is to begin to broaden and diversify your investments to lock in to a better extent to where we are now, ” McCourt said. “The way we typically start with our clients is to have a breakdown of about 80% of your investable assets in a managed core portfolio and about 20% in liquidity.”

Custodial accounts would be held by Farmers and U.S. Bank. The liquid amount will be handled by the treasurer’s office.

“We want the cash reserves to be in a liquid form that the county treasurer’s office will handle on a day-to-day basis,” he said.

Having the county’s money in longer-term investments helps it to budget over the next several years. Only representatives of the treasurer’s office will be able to move money from the tiered custody accounts.

Ragozzino told the commissioners they can reach out to the Ashtabula County commissioners, who have worked with Meeder, about the services provided to them.

Ragozzino suggested there will be a county investment advisory committee member meeting to discuss this issue.

Trumbull County Auditor Martha Yoder suggested obtaining an adviser may be beneficial.

“I support the treasurer’s decision,” she said.