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Mt Vernon board authorizes finance committee, affirms investment policy and reviews DUAB fiscal indicators
Summary
The Mt Vernon School Board approved a resolution creating its 2025 board of finance, reaffirmed its investment policy that permits Trust Indiana and local construction funds at GBC Wealth Management, and received an informational review of DUAB fiscal indicators noting a planned cash drawdown tied to upcoming construction.
The Mt Vernon Community School Corp board on Jan. 6 approved a resolution creating the district's board of finance for 2025, reaffirmed its investment policy and received the 2023 DUAB fiscal-indicators report that the district placed in the meeting record.
The actions came during the board's finance meeting, where Mr. Elkins, who presented the financial items, told the board the items are routine annual requirements and that the district's investments conform with Board Policy F200. "This is wash, rinse, repeat annually in January," he said, noting the district in 2024 began using Trust Indiana and maintains construction funds locally at GBC Wealth Management.
The board voted unanimously, 5-0, to approve Resolution…
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