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@mcls.org> on behalf of Todd Reed via Michlib-l <michlib-l@mcls.org> Sent: Monday, July 24, 2023 4:57 PM To: Barbara Gordon <bgordon@cass.lib.mi.us> Cc: Michlib-l <michlib-l@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@mcls.org<mailto:michlib-l@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@mcls.org<mailto:michlib-l@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> _______________________________________________ Michlib-l mailing list Michlib-l@mcls.org<mailto:Michlib-l@mcls.org> https://mail3.mcls.org/mailman/listinfo/michlib-l -- 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 _______________________________________________ Michlib-l mailing list Michlib-l@mcls.org<mailto:Michlib-l@mcls.org> https://mail3.mcls.org/mailman/listinfo/michlib-l