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Monte Vista staff signal plan to move roughly $6M into local government investment pool after presentation
Summary
City staff told the council they plan to shift about $6,000,000 of idle funds into an investment pool after a presentation showing higher yields; staff estimated roughly $60,000 more annual income versus the city's current bank accounts and said the county will remain a fiscal cushion for operating accounts.
Monte Vista officials said March 17 they plan to reallocate approximately $6,000,000 of idle municipal funds into a Colorado local-government investment pool following an on-record presentation from pool representatives.
Greg Hanson, the presenter identified at the meeting as with the investment pool the speakers referred to variously as "CollegeTrust" or similar spellings, described three products for local governments and quoted current yields: a Prime government-only fund at about 3.52% (19-day weighted average maturity), a Plus product at about 3.75% (51-day WAM),…
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