The keystones to maximizing your interest earnings are awareness and control. Local governments and school districts need to review the types of bank services available, understand their own banking needs, and keep track of the associated costs.
The following areas should be considered in your effort to maximixe interest earnings:
- Your use of interest-bearing and non-interest-bearing accounts
- Consolidation of accounts
- Periodic comparisons of interest rates and the cost of banking services
- Investment of idle cash balances
- Use of automated systems