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Cross Plains committee debates revised investment-income policy and library interest treatment
Summary
Village committee recommended clarifying which accounts receive investment income after members debated whether interest earned on library funds should remain with the library or be swept to the general fund; staff will revise the policy to list funds and return it for final approval next month.
The Village of Cross Plains Finance Advisory Enhancement Committee reviewed a draft investment-income allocation policy and asked staff to add explicit language defining which funds keep earned interest and which are swept to the general fund.
Elizabeth, speaking for the library, urged the committee to preserve interest earned on library funds. "I'm concerned if the interest that we're earning on the money that should be just in the library fund is going back into the general fund," she said, adding that state statute and library board control…
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