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Board bars certificate‑deposit placements, directs treasurer to purchase warrants
Summary
The State Board of Finance voted that no funds be placed in the certificate deposit program for Q3 FY25 and directed the treasurer to purchase warrants and maintain reasonable balances in demand deposits and money‑market accounts for daily operations.
The Arkansas State Board of Finance voted to keep the State Board of Finance certificate deposit program inactive for the third quarter of fiscal 2025 and directed the state treasurer to purchase warrants and maintain liquidity accounts for daily transactions.
As chair moved, the board adopted a motion that no funds are available for deposit in the certificate deposit program for Jan. 1–March 31, 2025. Separately, the board directed the treasurer to purchase warrants for the succeeding quarter and to retain reasonable amounts in demand deposit accounts and money markets for day‑to‑day spending activity; the motion cited statutory language included in the distributed materials.
Both motions were seconded and approved by voice vote; the minutes record the chair making the motions and the board recording 'aye' without roll‑call totals.
