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Lake Park Audubon board approves joining Minnesota Trust to manage short‑term cash flow
Summary
After a PTMA presentation on cash‑flow investing, the Lake Park Audubon School District board voted to adopt a resolution authorizing participation in the Minnesota Trust (Mintrust) pooled investment program to help forecast cash shortages and potentially increase interest earnings on district funds.
The Lake Park Audubon School District board voted on and approved a resolution authorizing the district to participate in the Minnesota Trust (Mintrust), a pooled investment program intended to help school districts manage short‑term cash flow and earn interest on idle funds.
The action followed a presentation from Steve Hummer of PTMA (Mintrust/PM A‑affiliated municipal advisers), who described the program’s cash‑flow forecasting tools and possible returns. Hummer said Mintrust is already used by more than 220 Minnesota districts and that participation requires routing state‑aid receipts into the Mintrust account; PTMA would then provide investment recommendations that district staff would approve. “If your money was in the Mintrust account today, you’d be collecting about 3.58% on that money,” Hummer said, noting yields can change daily and that PTMA’s fees come out of net returns.
Janetta, the district’s business manager, told the board LPA had not previously joined Mintrust and that PTMA would work with her office to set up accounts and provide the district’s cash‑flow profile. “This would help us forecast whether we’ll be short next winter and allow us to prepare rather than be surprised,” Janetta said.
Board members pressed on governance and costs. Hummer said there is no membership fee to join the trust; PTMA’s compensation is taken from investment yields or the spread on executed investments. He emphasized that PTMA makes recommendations and the district retains final authority to execute any investment.
After discussion, the board approved a resolution authorizing entry into the joint powers declaration of trust that establishes the Minnesota Trust, enabling participation in the fund’s fixed‑income and cash‑management programs. The board adopted the resolution by roll‑call vote.
The board’s immediate next step is administrative: routing state‑aid receipts through the Mintrust account and completing the paperwork to activate cash‑flow monitoring and investment recommendations. District officials said they expect to receive a 24‑month cash‑flow projection from PTMA to identify timing‑related shortfalls and potential investment windows.
The vote means the district can begin participation but still must approve any specific investment transactions recommended by staff and PTMA. The board scheduled follow‑up coordination between PTMA and district financial staff.
Action: Resolution authorizing participation in the Minnesota Trust (Mintrust) — approved by roll call.
