To the Participants of Michigan CLASS:
I’d like to take a moment to recognize and celebrate the meaningful growth and success that Michigan CLASS has seen over the past few years. I have been truly honored to serve on the Michigan CLASS Board, first as a member and now as the Chairman, and I am pleased to see the program grow to over $1 billion in assets under management this year! It has always been my belief that Michigan CLASS provides a valuable service to the many public agencies in Michigan. We know that those of you dealing with public funds in positions ranging from treasurer to chief financial officer and beyond often have a broad range of responsibilities and roles. As such, Michigan CLASS strives to provide a service to you that makes the task of safely and wisely investing your liquid funds much easier via a trusted source.
I’ve been a member of the Board for nearly twenty years, and it has truly been my privilege to work with such an educated and astute group. Every meeting I learn something that provides additional value to my community, and I am proud to serve the Participants in the pool as well as to be a Participant myself. The Board made an outstanding decision in hiring Public Trust Advisors, LLC (Public Trust) to manage the Michigan CLASS program. Their confidence in the program has been instrumental in allowing the pool to grow to an all-time high. The Board does a great job of continuing to ask questions and hold Public Trust accountable in their ability to stay on top of the dynamic economic landscape. This relationship has served the Participants well, and Public Trust continues to provide ease of use as well as a strong team of investment professionals whose primary concern is always the safety of our public’s funds. Their expertise in managing local government investment pools has also led to an increase in yield coupled with growing participation.
While safety and liquidity are important, transparency is paramount to the success of the Michigan CLASS program. To the Board, transparency means Participants know where their money is invested and making sure that it is liquid. Michigan CLASS wants to make sure it continues to serve our Participants and local communities throughout the state with the safety and transparency that they have come to expect. It has been my desire and the desire of the entire board to create a platform that places Michigan first and protects government employees and quasi-government officials, all while ensuring the safety of our Michigan tax payers.
Our Participants throughout Michigan are and always have been our greatest resource. Should you have any questions about Michigan CLASS, I invite you to reach out directly to me or to either of our local representatives, Rich Garay and Kristin Angel.
Chairman, Michigan CLASS Board of Trustees