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Finance director reports stronger interest earnings after bank change; general fund remains thin
Summary
Finance staff reported increased interest earnings after changing banks (monthly interest receipts listed) and recommended renewing several CDs at 4.07% while warning the general fund balance was under $20,000 and that the city may seek a line of credit.
Lebanon Citys finance staff (Speaker 11) reported to council on April 30 that a change in where the city banks has produced higher interest earnings so far in 2026, while cautioning that the general fund balance remains low.
Staff said the city continues to receive a 3.75% interest rate on certain accounts and provided monthly interest receipts: January $12,732.66, February $11,007.37, March…
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