To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Acceptance of the 3rd Quarter FY2024/2025 Investment report for the period ending June 30, 2025.
recommendation
BOARD ACTION REQUESTED:
The requested action is the acceptance of the 3rd quarter investment report for the period ending June 30, 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 managing our investments is being offset against the significant increase in interest the County has seen over the last few years.
DISCUSSION:
The interest revenue has increased significantly while under the management of Meeder Public Funds. By contracting with Meeder Public Funds, County Funds are being invested according to state statute.
IMPACT ON HUMAN RESOURCES:
There is no impact to Human Resources.
IMPACT ON BUDGET:
There is no impact to the adopted budget.
IMPACT ON FACILITIES:
There is no impact to facilities.
IMPACT ON TECHNOLOGY:
There is no impact to technology.
CONFORMITY TO COUNTY PRIORITIES:
The long-term financial stability is the primary priority of the Treasurer’s office. By safely and securely investing county funds, it allows additional revenue to be earned which can in turn to be used for programs to promote safe and healthy neighborhoods.
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 2024/2025, for the period ending June 30, 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 September 17, 2025 meeting of the Finance Committee of this Board.