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Wayne County Board adopts investment policy and treasury authorizations for 2026
Summary
The Board adopted a comprehensive Investment Policy for 2026 detailing objectives (legality, safety, liquidity, yield), delegation to the County Treasurer, authorized depositories with deposit limits (e.g., Lyons National Bank $85,000,000), permitted investments, and collateralization and custody rules.
Resolution 09-26, adopted Jan. 5, sets Wayne County’s Investment Policy for 2026. The policy outlines the hierarchy of objectives — compliance with law, safeguarding principal, liquidity, and reasonable yield — and delegates investment administration to the County Treasurer and designees, subject to written internal controls.
The policy names authorized depositories and maximum deposit limits, including Lyons National Bank ($85,000,000), NY MUNI Trust ($50,000,000), Community Bank ($5,000,000), and others, and requires collateralization and custodial agreements for deposits above FDIC limits. Permitted investments include special time deposits, certificates of deposit, U.S. obligations and certain agency obligations, bankers’ acceptances and no-load money market funds meeting high-rating criteria. The county also authorized temporary General Fund cash transfers to other funds when required (Resolution 10-26) with reporting requirements to the County Administrator and Finance Committee.
