Pleasant Ridge finance staff report $3.54 million parks endowment, roughly $782,000 return over recent years
City staff told commissioners the Parks & Recreation Endowment returned 13.5% last year and has an ending value of about $3.54 million; staff said the endowment has supported projects including the pool pavilion and will be managed for long-term growth and potential small annual withdrawals to sustain operations.
The full story
City finance staff presented the fiscal year-end cash and investments report and described two main centers for invested balances: local government investment pools (myClass and Oakland County pool) and the Parks & Recreation Endowment, a Vanguard portfolio established in 2015.
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