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Vacaville Lagoon Valley GAD appoints GAD Treasurer, Inc. to manage district funds
Summary
The Lagoon Valley Geologic Hazard Abatement District board approved a resolution appointing GAD Treasurer, Inc. to serve as the district treasurer and authorized a services contract. Board members asked about safeguards, investment limits and whether funds would be kept separate from other GAD accounts.
The Lagoon Valley Geologic Hazard Abatement District (GAD) board voted June 10 in Vacaville to appoint GAD Treasurer, Inc. as the district treasurer and to approve a contract for treasurer services.
The resolution, introduced during the GAD meeting at Vacaville City Council Chambers, was approved by motion from Council Member Roy Stockton and carried on a voice vote with all board members present voting "aye." The consent calendar—containing meeting minutes from Oct. 22, 2024—was also approved earlier in the meeting.
The appointment responds to a statutory requirement that a treasurer be named for a GAD, and it comes as revenues for Lagoon Valley begin to accrue. Haley Ralston, a geologist with NGO who serves as manager for the Lagoon Valley GAD, told…
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