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Snellville council approves participation in Georgia Fund 1 for five city funds
Summary
The council voted unanimously to enroll multiple municipal funds — general, 2023-plus, school zone safety, tree bank and confiscated assets — in Georgia Fund 1, a state-managed investment pool, to earn improved interest for city funds.
The Snellville City Council on July 27 approved five resolutions authorizing participation in Georgia Fund 1, a pooled investment program managed by the Georgia State Treasurer’s office, for several city funds.
Finance staff member Mr. Pepper explained that Georgia Fund 1 is a state-run pooled investment option intended to increase yield on municipal cash. "It's managed by the office of the State Treasurer...essentially an investment pool that we can join to earn better interest on the funds that we have," Pepper said.
Council voted 6–0 to approve each resolution covering the general fund, a 2023-plus fund, the school zone safety fund, the Tree Bank Fund and the confiscated assets fund; the motions were made and seconded in sequence and each passed by voice/hand vote. The council recorded the approvals as resolutions 2026-04 through 2026-08 (by item order as presented). Staff will proceed with the technical steps required to enroll eligible city accounts in the program.
