The Oxford Reserve and Trust Fund Committee announced the trust fund has increased to $39,630,997 as of March 31, 202.

The announcement was made at Tuesday’s Board of Alderman.

There was a 17% percent increase in the fund from March 31, 2020, when the fund sat at $33,819,000. The fiscal year for the fund runs from April 1 to March 31.

The trust generated $831,000 after taking into account expenses, management, investment and counter-professional and attorney fees.

As of this year’s term, 51% of the fund is allocated for fixed income securities such as bonds, corporate bonds and governmental bonds and the other 49% is for equities.

The overall asset returns for the years was found to be 18.24% compared to 2020’s negative return of 0.5%.

As of March 31, 2021, the maximum distribution the city of Oxford is eligible for under the trust agreement is $1,188,930.

In 2012, Baptist Memorial Hospital – North Mississippi sold its old hospital to the city and Lafayette County in order to build a new one. It gave the city and county $30 million dollars each. Oxford invested the entire $30 million into the city’s trust.

The Oxford trust fund helps pay for city projects not initially covered by the official budget.