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Board approves moving capital funds; treasurer reports software error in monthly report
Summary
The board discussed moving $1.5 million from capital reserve into a CD to earn higher interest, clarified institutional deposit insurance arrangements, and heard that a software update caused one prematurely printed check in the treasurer's reports that has been reconciled.
The finance discussion included two closely related items: a planned move of capital funds to secure higher interest and a treasurer's report about an accounting-software reporting error.
Finance committee noted a planned transfer of $1,500,000 from capital reserve into a certificate of deposit at Financial Resources Credit Union to take advantage of a higher rate (the committee…
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