The Clinton City Schools Board voted to increase district holdings in the state-run local government investment pool by $2 million, following a presentation from district finance staff that framed the move as an effort to earn higher interest on excess cash.

Scott Ray, the district finance presenter, told the board the district’s Regions bank account held just under $7 million and that three months of operating costs typically range from $1.5 million to $2 million. He recommended placing $2 million in the local investment pool to earn higher returns while retaining sufficient cash for operations. "So I propose with your authorization that we, invest an additional $2,000,000 in the local investment pool," Ray said.

Board members asked about safety and liquidity. Ray said the pool is liquid and run by the state of Tennessee but not insured; he estimated average yields of 4–5 percent. He said the funds could be made available quickly if needed for district projects: "If we wanted to reroof, you know, Clinton and it was $2,000,000, I can have it in 4 days," he said. He also described the pool’s risk as systemic: a catastrophic collapse would affect many participants, not just the district.

After discussion the board voted to approve the increase. The roll call recorded unanimous assent in the transcript (votes recorded as yes by board members present); the motion carried.

Board materials noted some of the funds placed in the pool had previously been held by the City of Clinton in various certificates of deposit; staff said consolidating control would simplify administration.

The board moved on to the director’s evaluation after approving the investment action.