Improve financial yield earned on CWCA balance sheet assets
Notes:
October 2023 Board approved financial manager @ Edward Jones. Identified excess capital. Engaged effort to complete paperwork in process. Paperwork completed in January 2024.
CWCA Board elected to move reserve savings to Edward Jones ~$200K. Previously, the CWCA yielded nearly nothing. Current instruments yielding between 4.5% and 5.25%. Net benefit to CWCA budget approximately $10K per year.
This program continues as approved using a ladder approach.
