[Michlib-l] Investment of Surplus Funds

[Susan Wess]

We are investing in laddered CDs, municipal funds and money market certificates. Our previous auditor wanted to be sure that all monies were invested in either Michigan banks or banks that had branches in MI. We do use a financial planner (somehow at no cost to us) who, when a CD is due, researches who pays the best interest rates.


Susan Wess, M.L.I.S.
Director
   [https://email24.godaddy.com/download.php?rand=856291&folder=INBOX.Sent_Items&uid=11608&part=2&tnef_part=-1&aEmlPart=0&orig=cid%3Asigimg0%404ad26beb6122eaa1eb777e3f2118898c&inline=1&filename=sigimg0&type=image%2Fjpeg&encoding=base64&]
151 Wabash St.
Milan, MI 48160
734.439.1240
734.439.5625 -- FAX


________________________________
From: Michlib-l <michlib-l-bounces at mcls.org> on behalf of Todd Reed via Michlib-l <michlib-l at mcls.org>
Sent: Monday, July 24, 2023 4:57 PM
To: Barbara Gordon <bgordon at cass.lib.mi.us>
Cc: Michlib-l <michlib-l at mcls.org>
Subject: Re: [Michlib-l] Investment of Surplus Funds

Ditto to what Barbara said.  With one money market mixed in and we manage it ourselves.

Todd Reed, Director
Sturgis District Library
[https://docs.google.com/uc?export=download&id=1FF2OsX52lXXv7xRwlTINiekWh9TJ64a5&revid=0BzsBglp5hmbydm1KdVVYQVEwaFZCZmJWSmlKNmZkNXR0bmwwPQ]




On Mon, Jul 24, 2023 at 3:49 PM Barbara Gordon via Michlib-l <michlib-l at mcls.org<mailto:michlib-l at mcls.org>> wrote:
Hi Kristina,

We are currently laddering CDs at various banks through Fidelity.

On Mon, Jul 24, 2023 at 3:44 PM Kristina Knezic via Michlib-l <michlib-l at mcls.org<mailto:michlib-l at mcls.org>> wrote:
Hello All,

I know there are guidelines for investing public funds, but my Board is interested in knowing where other libraries are investing surplus funds.

Thank you,
Kristina

Kristina Knezic, Director
Berrien Springs Community Library
215 W. Union St.
Berrien Sprins, MI 49103
269-471-7074
www.bsclibrary.org<http://www.bsclibrary.org>
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--
Barbara Gordon, MLS
Director

[https://drive.google.com/a/cass.lib.mi.us/uc?id=1qiAA-do8kkVpnkogeTAI7GqXEhyOzgZC&export=download]
319 M-62
Cassopolis, MI 49031
269-357-7822 ext. 101
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