I usually use this space to write about winter tax collections. This quarter, I want to highlight another important part of my job: managing the Township’s investments. The Treasurer is responsible for overseeing four distinct pools of money—the Township’s operating reserves (~$100 million), the pension fund (~$230 million), the retiree healthcare fund (~$30 million), and our defined contribution plans (~$70 million). Each is governed by different rules and regulations.
Managing these funds isn’t about chasing high returns or taking unnecessary risks. It’s about protecting taxpayer and employee dollars, ensuring sufficient liquidity when bills come due, and earning a reasonable return within strict legal guidelines. State law tightly limits what local governments can invest in, and for good reason. Safety and preservation of principal come first.
Every investment decision is guided by a formal investment policy adopted by the Township Board and reviewed regularly. My goal is simple and non-negotiable: keep the Township financially strong today while positioning it to meet long-term obligations tomorrow—without passing avoidable costs on to future residents. This work requires constant vigilance, but knowing that prudent management today protects services tomorrow makes it worthwhile.
With interest rates higher than they’ve been in years, our conservative investment approach is finally generating meaningful returns—over 4% on operating reserves compared to near-zero rates just a few years ago. This generates additional revenue for Township services without raising taxes. At the same time, we’re watching market volatility carefully and maintaining discipline around our asset allocation targets for the pension fund.
To support this work, the Township has a Financial Sustainability Committee that provides an additional layer of oversight and transparency. The committee includes three elected officials, the Finance Director, and three Township residents, and its meetings are public and recorded. In early 2026 the Board will be expanding the committee to allow for additional resident input. If you—or someone you know—has experience or interest in finance and investments and would like to serve, please contact my office for more information.
Wishing you and yours a happy new year.
-Michael Schostak
As printed in the Winter 2026 edition of the Living in Bloomfield newsletter.