Evansville Land Bank accepts April financials; board approves reinvestment of $100,000 CD

The Evansville Land Bank Corporation on May 16 approved its April 2025 financial statements, accepted routine minutes and authorized reinvestment of a $100,000 certificate of deposit into the highest-yielding insured CD available.

Jessica, a Land Bank staff member, summarized the month. "April activity includes income of the March and April monthly contribution from the city in the amount of $41,666.66. We had 6 properties that sold in the month of April approved by the Board," she said, and listed the sold properties and common expense categories such as inspector fees, landfill charges and equipment leases.

The Land Bank approved the minutes of its April 11 meeting and accepted the April financial statements by voice vote. On investments, the board discussed a $100,000 CD maturing the next week. The investment committee recommended reinvesting if the funds were not needed for operations; the board then voted to reinvest the maturing CD "in the best yielding insured CD possible," with the motion passed by voice vote.

Board members noted that city contributions to the Land Bank can fluctuate month to month: "some months we get 2 or even once in a while we'll get 3 payments from the city," Jessica said, explaining the variability in monthly receipts.

The board took no additional formal actions tied to the financial statements beyond the motions to accept the minutes and statements and the reinvestment direction.

Less-controversial, procedural matters — including routine roll-call confirmation on one parcel vote and announcements — concluded without further business.