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Lilburn authorizes additional Georgia Fund 1 account and $4 million placement
Summary
Council approved Resolution No. 2026-07 authorizing establishment of an additional Georgia Fund 1 account and granting the City Manager and Finance Director authority to deposit/withdraw up to $4,000,000; Finance Manager Therese Brown estimated a roughly $149,000 first-year return.
The council unanimously approved Resolution No. 2026-07 on July 13, authorizing the establishment of an additional Georgia Fund 1 account through the Local Government Investment Pool and granting the City Manager and Finance Director authority to deposit, withdraw, or transfer funds on behalf of the city. Finance Manager Therese Brown told the council the move would "allow the City to move approximately $4,000,000 into the Georgia Fund 1 investment pool to maximize the return on the City’s portfolio, with an estimated return of approximately $149,000 for the first year."
The resolution delegates operational authority to the City Manager and Finance Director to manage deposits and withdrawals from the LGIP account. The council recorded a 3-0 vote approving the resolution. Staff noted the action is intended to increase portfolio returns while preserving liquidity.
