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Madison County Commission accepts treasurer's report after review of CD maturities and cash-management options
Summary
Commission members reviewed maturing certificates of deposit, a roughly $11 million ICS/money-market balance and short-term reinvestment options; the body accepted the treasurer's report by roll call, with three recorded yes votes.
Madison County commissioners reviewed upcoming certificate-of-deposit maturities and county cash-management practices Monday, then voted to accept the treasurer's report.
During the discussion, a commissioner asked Stacy about a $3,000,000 CD that had matured Nov. 20; Stacy said interest was paid and that the proceeds were reinvested into treasuries. Commissioners detailed additional near-term maturities: $3,000,000 and $5,000,000 due on Jan. 8 and $3,000,000 due Feb. 19, and asked how to balance reinvestment with…
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