You are the treasurer of a midsize industrial manufacturer. Your firms cash balances vary between $300,000 and $1,000,000. During the last three board meetings a board member has asked how you protect this cash while it is being lodged in banks or other temporary facilities. Your problem is to satisfy the board member, obtain some income from the cash or cash equivalent balances, and have funds available for immediate payout if required. What course of action do you follow?