To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Acceptance of the 1st Quarter FY2024/2025 Investment Report
recommendation
BOARD ACTION REQUESTED:
The requested action is the acceptance of the 1st quarter investment report for the period ending December 31, 2024.
BACKGROUND:
In accordance with the County Investment Policy as well as Public Act 20 of 1943, as amended, MCL 129.96(3), the Treasurer is required to report quarterly to the County Board of Commissioners. The Treasurer's office has utilized Meeder Public Funds to administer the investments of the County in accordance with Public Act 20. The interest earned on the investments during the last several years has significantly exceeded the cost associated with Meder Public Funds.
DISCUSSION:
The previous Treasurer contracted with Meeder Public Funds to ensure County funds are invested safely and securely as well as within the guidelines of the County Investment Policy. Attached is the 1st quarter investment report for the period ending December 31, 2024.
IMPACT ON HUMAN RESOURCES:
The request has no impact on Human Resources
IMPACT ON BUDGET:
Anticipated interest earnings was included in the adopted budget for FY2024/2025.
IMPACT ON FACILITIES:
There is no impact on facilities.
IMPACT ON TECHNOLOGY:
There will be no impact on technology.
CONFORMITY TO COUNTY PRIORITIES:
By safely and securely investing county funds in accordance with Public Act 20 as well as the county investment policy, the Treasurer is prioritizing the long-term financial stability of the County.
resolution
TO THE HONORABLE CHAIRPERSON AND MEMBERS OF THE GENESEE COUNTY BOARD OF COMMISSIONERS, GENESEE COUNTY, MICHIGAN
LADIES AND GENTLEMEN:
BE IT RESOLVED, that this Board of County Commissioners of Genesee County, Michigan, hereby accepts the investment report of the 1st quarter of fiscal year 2024/2025, for the period ending December 31, 2024, as subm...
Click here for full text