To: Martin L. Cousineau, Finance Committee Chairperson
From: Samuel E. Muma, Treasurer
title
RE: Acceptance of 4th Quarter FY2024/2025 Investment Report
recommendation
BOARD ACTION REQUESTED:
The requested action of the Board is to accept the 4th quarter investment report for the period ending September 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 report quarterly to the County Board of Commissioners. For the last several years, the Treasurer's office has utilized Meeder Public Funds to administer the investments of the County in accordance of Public Act 20. The interest being earned on the investments every year has exceeded the cost of Meeder Public Funds services.
DISCUSSION:
In accordance with the county investment policy, and Public Act 20, county funds are invested with objectives of safety, liquidity, and yield being the order of priority. Genesee County has been able to earn an average interest rate around 4% to 4.5%. With the recent cuts by the Federal Reserve, we are anticipating our interest rates will drop over the next fiscal year.
IMPACT ON HUMAN RESOURCES:
There is no impact to Human Resources.
IMPACT ON BUDGET:
There is no direct impact to the adopted budget. Investment earnings are adopted as part of the annual budget.
IMPACT ON FACILITIES:
There is no impact on facilities.
IMPACT ON TECHNOLOGY:
There is no impact on technology.
CONFORMITY TO COUNTY PRIORITIES:
The long term financial stability of the County is one of the primary priorities of the Treasurer's office. With safety, liquidity and yield being the order of importance while investing County funds, this relates directly to the 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 Bo...
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