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North Chevy Chase adopts investment policy; Treasurer reports $3.7 million in assets
Summary
The council adopted a state-required investment policy prioritizing safety and liquidity and reported $3.7 million in village assets as of May 31; Treasurer noted an $800,000 transfer to the Maryland Local Government Investment Pool and recommended restoring monthly revenue comparisons.
The Village of North Chevy Chase formally adopted a new investment policy required by State law and reviewed monthly financial results through May.
Treasurer Geetika Sripathi reported year-to-date income (July 2025–May 2026) of $491,333, representing nearly 90% of expected FY2026 revenues, and operating expenses of $407,817. The Village’s assets as of May 31 totaled $3,712,672 and liabilities were $12,562.15. Sripathi also reported a successful transfer of $800,000 to the Maryland Local Government Investment Pool (MLGIP).
Council passed the investment policy by resolution; staff said the policy emphasizes safety and liquidity, prioritizes FDIC-insured accounts and participation in MLGIP overseen by the State Treasurer, and will be filed with the State Treasurer’s office and posted to the Village website. Council members asked staff to reintroduce monthly comparisons of revenue sources to better track incremental changes.
