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File #: RES-2025-1699    Version: 1
Type: Resolution Status: Passed
File created: 4/25/2025 In control: Board of County Commissioners
On agenda: 5/28/2025 Final action: 5/28/2025
Title: RE: Acceptance of the 2nd Quarter FY2024/2025 Investment Report
Attachments: 1. GENESEECNTY-OP_03_25, 2. GENESEECNTY-TR_03_25, 3. GENESEECNTY-DTR_03_25, 4. GENESEECNTY-ARPA_03_25, 5. GENESEECNTY-24PRJ_03_25

To: Martin L. Cousineau, Finance Committee Chairperson

 

From: Samuel E. Muma

 

title

RE: Acceptance of the 2nd Quarter FY2024/2025 Investment Report

 

recommendation

BOARD ACTION REQUESTED:
The requested action is the acceptance of the 2nd quarter investment report for the period ending March 31, 2025.

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 provide quarterly reports to the County Board of Commissioners.  Currently, Meeder Public Funds administers and oversees the investments of the County in accordance with Public Act 20. The fee for them overseeing our investments has been offset against the significant increase in interest the County has seen over the last few years.

DISCUSSION:
By utilizing Meeder Public Funds, we have been able to increase the amount of interest earned for the County. By contracting with Meeder, we are ensuring County Funds are invested safely, securely and within the County Investment Policy.

IMPACT ON HUMAN RESOURCES:
There is no impact to Human Resources for this request.

IMPACT ON BUDGET:
Potential interest earned has been included in the adopted budget for FYE25.

IMPACT ON FACILITIES:
There is no impact to facilities.

IMPACT ON TECHNOLOGY:
There is no impact on technology.

CONFORMITY TO COUNTY PRIORITIES:
The long term financial stability of the County is the priority of the Treasurer’s office by ensuring County funds are safely and securely invested.

 

 

 

 

 

 

 

 

 

 

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 2nd quarter of fiscal year 2024/2025, for the period ending March 31, 2025, 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 May 21, 2025 meeting of the Finance Committee of this Board).