State Treasurer Lynn Fitch today released a new tool to help local government units, particularly those in rural and smaller communities, improve access to financial institutions.
“All local governments, from the biggest counties to the smallest school districts, need strong relationships with financial institutions,” said State Treasurer Lynn Fitch. “It’s the cornerstone of all the work they do for their constituents. But in recent years, we’ve seen the pool of banks available to some of these localities has been shrinking. My staff and I saw the problem and set to work to find a solution.”…
…Treasurer Fitch’s office spent the last year meeting with local governments and banking institutions to create a standardized form that can be used during the bid process. It helps streamline paperwork and encourage more financial institutions to engage in a broader range of bids.