Treasurer Mandel Tours Finneytown Local Schools to Discuss $10 Million Deposit in STAR Plus Program
SPRINGFIELD TWP – State Treasurer Josh Mandel visited Finneytown Local Schools’ Secondary Campus in Hamilton County today to discuss the district’s $10 million deposit into the Ohio Treasury’s innovative STAR Plus cash deposit program. The STAR Plus investment program is endorsed by Treasurer’s office and offers the security of 100% federally insured deposits and a competitive yield to local government subdivisions.
“The STAR Plus program allows school districts like Finneytown Local Schools access to an investment program with a combination of safety, liquidity and yield that is tough to find in today’s market,” said Treasurer Mandel. “This program gives schools the opportunity to do more with less, while still ensuring that their money is 100% safe and secure.”
“Our school district continually works hard to find the best way to take our tax dollars and make the most out of what our community has given us,” said Finneytown Superintendent Deborah Semenick. “STAR Plus gives us the peace of mind knowing our money is safe and accessible, yet we are still able to earn a competitive yield. Programs like this directly impact the quality of education we are able to give our students.”
Since the launch of STAR Plus, over 260 local government subdivisions across the state, from cities and counties to libraries and school districts, have opened accounts. Deposits in the STAR Plus program have topped $810 million in recent days.
STAR Plus is endorsed by the Ohio Treasurer’s office and provides safe and competitive returns on cash deposits for Ohio local governments. The program is modeled after established private-sector programs and will allow government fund managers to place deposits in a carefully-screened network of hundreds of Federal Deposit Insurance Corporation (FDIC) insured banks via a single convenient account. Public funds deposited in the program are fully secured with no credit or market risk while earning a competitive yield.
For more information on STAR Plus, please visit: www.STAROhioPlus.com