This study examines county government participation in the state-sponsored investment pool, the North Carolina Capital Management Trust (NCCMT) term portfolio, as a method to increase investment earnings for various expenditures under poor market conditions. Based on a survival analysis model of all counties that participated inclusive of additional survey data from finance officers concerning annual practices between fiscal years 2008–2012, findings suggest that county sales taxes were the most influential revenue stream on NCCMT term portfolio participation in conjunction with the presence of available funds in the cash portfolio. Findings also determined that the NCCMT term portfolio was the safest investment option available for this time period compared to other securities.
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