Politics & Government
North Wales to Handle Own $3M Reserve Reinvestment
Borough Manager Nate Dysard will oversee the investment of $2.75 million of the borough's reserve fund into money market accounts and certificates of deposit for two years over 12 banks.
North Wales Borough is planning on avoiding long-term investment risks and handling its own reserve fund reinvestment, saving $1,000 along the way.
According to The Reporter, Borough Manager Nate Dysard will manage the reinvestment. Dysard has presented a proposal to council for the $3 million reserve, according to the report.
The plan is to deposit the reserves into 12 banks, with all but $250,000 invested in money markets and certificates of deposits for two years, according to the report. The borough would save $1,000 in fees, according to the article.
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