The Middlesex County Board of Supervisors (MCBS) is looking for ways to generate investment revenues from the county’s “fund balance.”
At the county’s Feb. 7 budget work session, MCBS board chairman and Pinetop District representative Lud Kimbrough suggested that the county invest some of the county’s fund balance in “four-week treasury certificates”.
Assistant County Administrator AnnMarie Ricardi suggested putting the funds in a Local Government Investment Pool (LGIP) account with the Virginia Treasury as an alternative since it has comparable interest rates and is equally secure.
