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Commission designates 2026 depositories, approves first pilot payment and hears financial report
Summary
Waukesha Water Utility commissioners approved designating Waukesha State Bank, JPMorgan Chase and the state LGIP as 2026 depositories, approved payments including a $774,000.50 pilot payment, and heard a financial update citing higher-than-expected consumption and a $2.1 million WIFIA reimbursement.
The Waukesha Water Utility Commission on Jan. 15 voted to designate Waukesha State Bank (including Waukesha Investments), JPMorgan Chase Bank and the State of Wisconsin Local Government Investment Pool (LGIP) as official depositories for 2026. The motion passed unanimously.
Staff explained the roles of each institution: Waukesha State Bank serves as the utility’s everyday servicing bank, JPMorgan Chase holds electronic deposits that are swept monthly, and LGIP is used for low-risk investments tied to debt and tax funds. "Waukesha State Bank is currently our everyday bank," a finance staff member…
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