Treasurer Mandel visits Jackson High School to Discuss District’s $15 Million Deposit into Innovative STAR Plus Program
JACKSON – State Treasurer Josh Mandel visited Jackson High School in Stark County today to discuss the district’s $15 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.
“School districts like Jackson Local Schools are looking for investment opportunities that offer them safety, liquidity and competitive yield,” said Treasurer Mandel. “The STAR Plus program does just that with fully secured FDIC insurance, weekly liquidity and a competitive yield. School districts know that with this program their money is safely working to generate a return that will help give teachers new tools to prepare their students for success in a 21st century economy.”
“STAR Plus has been a welcome addition to the Jackson Local Schools investment portfolio,” said Christopher DiLoreto, Superintendent of Jackson Local Schools. “We know that our money is safe and accessible, and our schools appreciate the opportunity to earn a higher rate of return on our community’s investment in our students’ education.”
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 $760 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 or www.OhioTreasurer.gov.