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Budget and Finance Committee approves minutes, budget amendments and a laddered $2 million CD investment
Summary
The committee approved January minutes, trustee balances and four budget amendments, and authorized investing $2 million from the Capital Projects (171) fund into laddered certificates of deposit (25% 6-month @4.00%, 25% 12-month @3.95%, 50% 24-month @3.75%). Interest will return to the capital fund.
The Budget and Finance Committee approved its January minutes, multiple budget amendments and a plan to invest $2,000,000 from the capital projects (171) fund into laddered certificates of deposit.
Chair opened the meeting and, after a motion by Mister Ford and a second from Dennis, the committee approved the minutes by voice vote. Later, the committee approved trustee balances on a motion by Ford, seconded by Jeff Gregory.
The committee considered current CD offers from local banks—6 months at 4.00%, 12 months at 3.95% and 24 months at 3.75%—and discussed whether to split the $2,000,000 to…
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