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Londonderry supervisors move township funds from Truist to MidPenn, approve PSDMAX accounts
Summary
The board authorized closing township bank accounts at Truist and transferring funds to MidPenn, and approved creation of General and Golf Course PSDMAX accounts with the PSDLAF with authorized signatories Anna Dale, Ron Kopp and Bart Shellenhamer.
The Londonderry Township Board of Supervisors voted on Feb. 21, 2024 to restructure some township banking arrangements. Finance Director Brian Marchuck requested closure of township accounts at Truist Bank and transfer of funds to MidPenn Bank; Supervisor Anna Dale moved the action, Secretary/Treasurer Mike Geyer seconded, and the motion passed unanimously.
Marchuck also recommended creating General Fund and Golf Course PSDMAX accounts with the Pennsylvania School District Liquid Asset Fund (PSDLAF) and naming authorized signatories for both accounts: Supervisor Anna Dale, Vice Chair Ron Kopp and Chair Bart Shellenhamer. Supervisor Mel Hershey moved the creation of the accounts; Secretary/Treasurer Geyer seconded; the motion passed unanimously.
The minutes record authorization to close and transfer accounts and to establish the PSDMAX accounts; they do not record the exact transfer amounts or the date the new accounts become active.
