Treasurer reports $1.75 billion managed; committee receives quarterly investment report and approves clerk alarm-system funding

The Wayne County Treasurer's Office reported to the Ways and Means Committee that it managed about $1.75 billion as of March 31 and recorded approximately $38.825 million in interest income for the six months ending March 31, placing the office on track to earn roughly $75 million for the fiscal year, the investment manager said.

The treasurer's office told the committee that interest rates on new purchases have declined and are expected to continue to fall for the remainder of the fiscal year. Commissioners had no further questions about the investment report and received the communication.

Separately, Dwayne Seals, chief deputy clerk, explained a budget adjustment (202535083) from the clerk's office to reallocate expenditures to purchase an alarm and camera system for the clerk's Detroit records operation at 400 Monroe; the cameras are intended to provide enhanced operational monitoring. Technical difficulties delayed the department representative's earlier participation, and Seals appeared later in the meeting to present the item.

Votes at a glance: The committee approved a consolidated motion that included approval of minutes from 04/08/2025, approval of items 1 through 4 and to receive item 5 (the investment report) on file. The roll-call vote recorded unanimous support from the commissioners present.

Ending: Committee members said departments should be present for questions at committee meetings going forward; staff agreed to provide responses to outstanding departmental questions at the full commission if necessary.