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Scofield council discusses investing reserves; treasurer to present options next month
Summary
Councilmembers discussed using brokerage deposits, CDs or T-bills to earn higher yields on the utility and B&C road funds; they asked Treasurer Sherry to gather rates and to invite a financial adviser to present options next month.
The Scofield Town Council on July 14 discussed whether to invest portions of the town's reserves in instruments such as brokered liquid deposits, certificates of deposit with ladder maturities, Treasury bills and money-market funds, and tasked the town treasurer with presenting concrete options at the next meeting.
Council members reviewed account balances the clerk presented: B and C Road Fund, $97,728.48; General Fund, $82,095.29; Pleasant Valley Days…
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