Board of Finance reviews 2025 investment report, DUAB fiscal indicators and designates depository banks
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Summary
The Board of Finance approved the 2025 investment report, reviewed Distressed Units Appeal Board (DUAB) fiscal indicators showing a solid financial condition, and designated Greenfield Banking Company and Argent Bank as depositories after Huntington sold its investment unit.
The Greenfield Central Board of Trustees convened as the Board of Finance and approved the district’s 2025 investment report and related recommendations.
Presenters summarized returns and balances: the packet lists deposits with Greenfield Banking Company yielding approximately $677,515.63 and investment interest from CDs of about $357,827.89; the presenter described the district’s strategy of laddered CDs maturing through July 2027 and noted that rates have declined recently but still exceed checking‑account returns.
Board members reviewed the fiscal indicators report published by the Distressed Units Appeal Board (DUAB). The presenter noted the 2017 legislation that enables state action in extreme situations but said Greenfield’s indicators show the district on a "solid and improving financial condition," with flexibility to handle projected 2026 needs.
Because Huntington Bank sold its investment trustee unit, the board recommended and approved designating Greenfield Banking Company as a depository for corporation funds and Argent Bank as the depository for investment funds. The board also reapproved minutes from the 12/08/2025 regular and executive sessions and approved the claims docket as presented.
Most financial items were approved by motion and voice vote; the presenters emphasized the district’s prudent reserve goals and one‑time curricular purchases that affected year‑end balances.
