To the Participants of Michigan CLASS:
On behalf of the Michigan CLASS Board of Trustees, I wanted to take a moment to share a few Board initiatives from the past few months of importance to you as a Michigan CLASS Participant. The Board maintains a series of governing policies specially designed to guide the Trustees with their collective program oversight. In those policies, the steps that the Trustees take to help ensure that their oversight results in a premier, professionally managed, AAA-rated investment product to all Participants while delivering an exceptional client experience are detailed. Here are a few of the highlights:
Participant Ownership – Michigan CLASS maintains an elected Board of up to 13 members who represent the diversity of the Participants throughout the state and promote Participant ownership. The 2019 Michigan CLASS Election process is currently underway, and Participants recently received an email with the nomination package detailing the process.
Professional Service Providers – As you may know, Michigan CLASS contracts with Public Trust Advisors, LLC (Public Trust) as the investment advisor and program administrator. Since 2014, Michigan CLASS and Public Trust have worked together to create a strong partnership for the benefit of the Participants. This year, the Board developed and completed a comprehensive performance evaluation of the service provider, and I am pleased to report that Public Trust received top marks in all evaluation categories. We strongly believe that the Public Trust team shares our vision of providing an exceptional investment product of which all Michigan public agencies can be proud.
Brand Recognition – It is the Board’s desire to cultivate an environment of trust and respect among the service provider, the Board of Trustees, the Participants, and potential Participants through open communication, educational development, collaboration with a variety of Michigan public associations, and operational transparency. In an effort to have conversations with as many Participants and public agencies throughout the year, the Michigan CLASS Representatives, Rich Garay and Kristin Angel, have attended nearly 15 conferences so far this year. Michigan CLASS has also sponsored more than 10 organizations this year, furthering our dedication to the success of all public agencies in Michigan.
It has been an honor and a privilege to serve on the Michigan CLASS Board, both as a member and as the Chairman, and I am pleased to have witnessed the considerable growth of the program over the past few years. The entire Board truly believes that Michigan CLASS provides a valuable service to the many public agencies in Michigan. If there is anything we can be doing to keep you better informed, please let us know.
Edward J. Sell Jr.
Chairman, Michigan CLASS Board of Trustees