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Authority approves closing dormant United Community Bank account after bond payoff
Summary
The Development Authority approved closing its United Community Bank account — where a bond had been held — and will retain its operating balance in Community Bank; an invoice from Gerard and Davis for $2,005.50 was noted.
The Development Authority of Pickens County on Feb. 7 approved closing its United Community Bank account after reporting the bond previously held there has been paid off.
At the meeting the treasurer reported that the authority’s primary operating account is at Community Bank (Pickens County) and that the United Community Bank account has shown a zero balance for several months. The treasurer requested approval to close the United Community Bank account so the authority would retain a single account going forward; the board approved the request on a voice vote.
The treasurer also presented the authority with a January invoice from Gerard and Davis for $2,005.50 for review. No additional budget action or expenditure approval for that invoice is recorded in the transcript excerpt; the treasurer said the invoice was available for board members to review.
Minutes show the authority approved the agenda and the minutes from the previous meeting, and that the next regular meeting is scheduled for March 7, 2025 at 11 a.m.
