PMC invests approximately $1.5 million in U.S. treasury bills

The Petersburg Medical Center has invested just under $1.5 million in three United States Treasury Bills with a yield rate of over 2 percent after board approval was given at last month’s hospital board meeting.

The treasury bills will each mature throughout 2019 and reach $500,000 each. Those with a later mature date cost the hospital less, said PMC CFO Doran Hammett at the hospital board meeting on Oct. 24. All of the hospitals investments have a combined total annual interest of $51,853.21, which Hammett said could cover most of the cost of an elevator repair.

“Your money’s doing something...