Joint Cash Management and Investment Program (JCMI)

The MEL created the Joint Cash Management and Investment Program (JCMI) to purchase short-term (1 year) Bond Anticipation Notes (BAN) at fair market prices to save towns money and enable the continuation of important local improvement projects such as roads, bridges, equipment, and construction.

The Joint Cash Management and Investment Program was made possible after special rules were adopted (NJAC 5:38-1) in 2019 by the Department of Community Affairs Division of Local Government Services to allow Joint Insurance Funds to expand investments to include the purchase of short and long-term municipal debt.

Want to learn more about the JCMI?

Municipal Excess Liability Joint Insurance Fund
9 Campus Drive, Suite 216,
Parsippany, NJ 07054

Phone: 201.881.7632
Fax: 201.881.7633
mel@permainc.com

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