Treasurer: new investment approach produced roughly $250,000 in interest last year

Treasurer Trudy Boward reported to the Sanac County Board on Feb. 4 that a change in the county’s investment approach produced material interest income for county funds in 2024.

Boward said the county moved funds out of multiple local banks after hiring a financial advisor and consolidated investments into fully insured vehicles, including treasuries and the Michigan CLASS investment pool. "This has created a revenue stream for all of us," Boward said, noting a bottom-line interest total of about $250,000 distributed across county funds last year.

Boward walked the board through comparative statements for 2023 and 2024, noted month-to-month yield movement and provided a packet that included five-year treasury yield charts. Commissioners asked for clarification about a June dip in yields; Boward said she would check the details and follow up. Board members praised staff coordination to ensure invested funds remain sufficiently liquid to meet payroll and other near-term obligations.

Boward referenced work by the county’s financial advisor (named in the packet) and an advisory monthly commentary included with the materials. She said the county’s approach emphasizes insurance and principal safety while seeking higher yields than under prior bank-heavy cash holdings. Commissioners thanked Boward and staff for the transition and suggested continuing monitoring and periodic reporting.

The board did not take formal action on the presentation; it was entered into the record and staff were thanked for their work.