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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. <br>
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<div><span style="color: rgb(136, 136, 136);"><i><span style="color: rgb(0, 0, 255);">Susan Wess, M.L.I.S.<br>
Director<br>
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<div><span style="color: rgb(136, 136, 136);"><i><span style="color: rgb(0, 0, 255);">151 Wabash St.</span></i></span></div>
<div><span style="color: rgb(136, 136, 136);"><i><span style="color: rgb(0, 0, 255);">Milan, MI 48160</span></i></span></div>
<div><span style="color: rgb(136, 136, 136);"><i><span style="color: rgb(0, 0, 255);">734.439.1240</span></i></span></div>
<div><span style="color: rgb(136, 136, 136);"><i><span style="color: rgb(0, 0, 255);">734.439.5625 -- FAX
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<div id="divRplyFwdMsg" dir="ltr"><font face="Calibri, sans-serif" style="font-size:11pt" color="#000000"><b>From:</b> Michlib-l <michlib-l-bounces@mcls.org> on behalf of Todd Reed via Michlib-l <michlib-l@mcls.org><br>
<b>Sent:</b> Monday, July 24, 2023 4:57 PM<br>
<b>To:</b> Barbara Gordon <bgordon@cass.lib.mi.us><br>
<b>Cc:</b> Michlib-l <michlib-l@mcls.org><br>
<b>Subject:</b> Re: [Michlib-l] Investment of Surplus Funds</font>
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<div dir="ltr">Ditto to what Barbara said. With one money market mixed in and we manage it ourselves.
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<div><i><b>Todd Reed, Director</b><br>
Sturgis District Library</i></div>
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<div dir="ltr" class="x_gmail_attr">On Mon, Jul 24, 2023 at 3:49 PM Barbara Gordon via Michlib-l <<a href="mailto:michlib-l@mcls.org">michlib-l@mcls.org</a>> wrote:<br>
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<div dir="ltr">Hi Kristina,
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<div>We are currently laddering CDs at various banks through Fidelity. </div>
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<div dir="ltr" class="x_gmail_attr">On Mon, Jul 24, 2023 at 3:44 PM Kristina Knezic via Michlib-l <<a href="mailto:michlib-l@mcls.org" target="_blank">michlib-l@mcls.org</a>> wrote:<br>
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Hello All, </div>
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I know there are guidelines for investing public funds, but my Board is interested in knowing where other libraries are investing surplus funds.
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Thank you, </div>
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Kristina </div>
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Kristina Knezic, Director </div>
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Berrien Springs Community Library </div>
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215 W. Union St. </div>
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Berrien Sprins, MI 49103 </div>
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269-471-7074 </div>
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<a href="http://www.bsclibrary.org" target="_blank">www.bsclibrary.org</a> </div>
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<span class="x_gmail_signature_prefix">-- </span><br>
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<div dir="ltr">Barbara Gordon, MLS
<div>Director</div>
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<div><img width="200" height="79" src="https://drive.google.com/a/cass.lib.mi.us/uc?id=1qiAA-do8kkVpnkogeTAI7GqXEhyOzgZC&export=download"><br>
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<div>319 M-62<br>
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<div>Cassopolis, MI 49031</div>
<div>269-357-7822 ext. 101</div>
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