To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Forwarding to receive and file a copy of the 2nd Quarter FY25/26 Investment Report
recommendation
BOARD ACTION REQUESTED:
The requested action of the Board is to accept the 2nd quarter investment report for the period ending March 31, 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. Meeder Public Funds is used by the Treasurer’s office to administer the investments of the County in accordance with Public Act 20. The cost incurred from Meeder Public Funds to perform this function has been covered by the interest earned from the investments.
DISCUSSION:
In accordance with PA20 and the County Investment Policy, county funds are invested using safety, liquidity and yield, being the three priorities. Genesee County continues to invest with safety and liquidity being the main focus. Interest rates may see another cut by the Federal Reserve this year, however, yield is not the primary objective for investments. Given this, the Treasurer’s office will continue to invest utilizing stable and liquid options to ensure funding is available as needed for anticipated county expenditures.
IMPACT ON HUMAN RESOURCES:
There is no impact on Human Resources
IMPACT ON BUDGET:
Interest earned on investments is a budgeted line item within the adopted FY25/26 budget.
IMPACT ON FACILITIES:
There is no impact on facilities
IMPACT ON TECHNOLOGY:
There is no impact on technology.
CONFORMITY TO COUNTY PRIORITIES:
Investments of county funds in a safe manner and in accordance with PA 20 to ensure long term financial stability of the county is the primary focus for the Treasurer’s office. It also provides for funding for programs offered by the county to meet economic growth, healthy neighborhoods, and stable communities.
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 2nd quarter of fiscal year 2025/2026, for the period ending March 31, 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 May 6, 2026 meeting of the Finance Committee of this Board).