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Forest Park DDA finance report shows cash on hand, cites past fraud mitigation
Summary
Finance reported operating cash across Truist accounts of about $5.87 million and January deposits and withdrawals; staff said previous fraudulent activity has been mitigated and described use of Georgia Fund 1 for higher yields.
The Forest Park Downtown Development Authority received a financial update at its Feb. 26 meeting that outlined cash balances, recent activity and investment choices, and flagged prior fraudulent activity staff said has since been mitigated.
The finance presenter reported operating cash held across three Truist accounts with a beginning combined balance noted as $5,865,180. For January, deposits totaled $17,846 and withdrawals/debits $10,462, producing…
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