To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Forwarding to receive and file a copy of the 3rd quarter FY25/26 Investment Report for period ending June 30, 2026
recommendation
BOARD ACTION REQUESTED:
The requested action of the Board is to accept the 3rd quarter investment report for the period ending June 30, 2026.
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 utilizes Meeder Public Funds to administer investments for the County as well as investing in Michigan Class for more liquid funding. Both ensure PA20 rules are being followed by the County.
DISCUSSION:
The three main objectives of the county investment policy are to invest safely, have some liquidity and yield on investments. The yield rate for this year has stayed around 3.5% - 4% for all investments. Michigan Class has introduced a new product that works similar to a CD and locks in an interest rate for the term of the investment versus the fluctuating rate on the mutual fund type investment. The Treasurer’s office has moved some DTR money to take advantage of this new option and will be exploring using it for the opioid funds and possibly general funds.
IMPACT ON HUMAN RESOURCES:
There is no impact on Human Resources
IMPACT ON BUDGET:
The impact on the budget was included in the FY25/26 budget for investment earnings and the cost of Meeder administering the investments.
IMPACT ON FACILITIES:
There is no impact on facilities
IMPACT ON TECHNOLOGY:
There is no impact on technology.
CONFORMITY TO COUNTY PRIORITIES:
By safely investing county funds, it allows other departments to offer programs that will impact citizens. These programs are inclusive in nature and create safer and more stable neighborhoods. The investment strategy of the county is to ensure 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 for the 3rd quarter of fiscal year 2025/2026, for the period ending June 30, 2026, as submitted by the Genesee County Treasurer in accordance with MCL 129.96(3) and the Genesee County Investment policy (a copy of the memorandum request and supporting documents being on file with the official records of the September 16, 2026 meeting of the Finance Committee of this Board.