New SUMA Invest Program aims to put more money back into Saskatchewan Municipalities
The Saskatchewan Urban Municipalities Association (SUMA) and the Saskatchewan Community Foundation are proud to announce a new partnership and the launch of the SUMAInvest program. The SUMAInvest program offers Saskatchewan municipalities the opportunity to pool reserves in a diversified investment portfolio to strengthen the financial capacity of our communities.
SUMAInvest harnesses the power of the Saskatchewan Community Foundation’s professionally managed investment portfolio of over $125 million. Municipal reserves can benefit from the Community Foundation’s structure like having access to different asset classes, and work towards putting more dollars back into local communities.
“By benefiting from better financial management of reserves that supports long-term community planning, SUMAInvest empowers urban municipalities to leverage strategic investments, grow their wealth, and significantly enhance community infrastructure,” said SUMA’s CEO, Jean-Marc Nadeau. “This approach can lead to the development of more roads, rinks, parks, and other essential amenities. Through a well-structured municipal investment program, our municipalities can foster sustainable growth, improve quality of life, and create vibrant, interconnected communities that thrive on the power of strategic foresight and resource allocation.”
Former Mayor of Humboldt Malcolm Eaton encourages municipal leaders to take part. He encourages them to learn about the best practices for governance and financial management. Eaton draws on his own experience as a member of council and his work with municipalities. He recognizes the importance of effective reserve management to help stretch municipal dollars.
Eaton states, “The aspirations we all have for the future of our communities must be based on financial plans that support our long-term goals and vision. SUMAInvest provides a vehicle to help councils make financial planning decisions that can have a real impact.”
For more information regarding the SUMAInvest progam visit www.sumainvest.ca today.
About SUMA
Since 1905, SUMA has been recognized as the collective voice of Saskatchewan municipalities. SUMA represents the interests of municipal governments. This includes policy and program matters within the province.
The SUMAInvest program is an opportunity for member municipalities to strengthen their financial position and grow reserves, thus sustaining and enhancing our communities.
About the Saskatchewan Community Foundation
The Saskatchewan Community Foundation has been investing in Saskatchewan communities for over 55 years. It is one of Saskatchewan’s largest non-government funders of the charitable sector. The Saskatchewan Community Foundation is a catalyst for community impact and has granted over $40 million in the past decade alone.
As an institutional investor, the Saskatchewan Community Foundation is trusted with over $125 million in assets. SUMAInvest harnesses the investment infrastructure and economies of scale of the Saskatchewan Community Foundation to support municipal reserve management. The program is similar to a pension plan but for the non-profit sector.