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Development authority votes to move accounts under city control, end outside accounting services
Summary
The Forest Park Development Authority approved motions to close its off-site bank account and transfer funds into a new Bank of America account managed through the city, and to end the authority's outside accounting contract so the city can provide treasury services.
The Forest Park Development Authority on a voice vote approved two financial moves aimed at transferring fiscal operations into city control.
At the meeting staff said the authority has opened a Bank of America account and deposited $8,000 and is working to connect the city's ENCODE financial system to the new account for reconciliations and reporting. Staff recommended closing the authority's existing off‑site bank account and terminating the…
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