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Farwell council moves to electronic bank statements and authorizes investment flexibility
Summary
The Village of Farwell approved switching to electronic bank statements at Isabella Bank, discontinued Positive Pay, and authorized the clerk to transfer funds from Huntington Bank CDs to MiClass if financially beneficial, each motion passing unanimously.
The Village of Farwell council voted July 21 to convert its Isabella Bank accounts to electronic bank statements and to discontinue the bank's Positive Pay service. Trustee Amanda Pfruender moved to switch to electronic bank statements; Trustee Victoria Williams seconded and the motion passed on a roll-call vote with all members voting yes.
Trustee Gina Hamilton subsequently moved to discontinue Positive Pay at Isabella Bank; Trustee Jeff Linton seconded and that motion also passed unanimously. Council minutes record the votes as "all yeas." The actions apply to all Village bank accounts held at Isabella Bank.
The council also authorized the Clerk/Treasurer to move funds from Huntington Bank certificates of deposit into MiClass accounts if doing so is financially beneficial to the Village. Trustee Jeff Linton made the motion, Trustee Marvin Frayer seconded, and the motion carried on a roll-call vote with all members voting yes.
These decisions were made during the New Business portion of the July 21 meeting and were recorded without additional conditions or amendments. No public comment on banking or investments was recorded. The council's next regular meeting is scheduled for Aug. 4, 2025.
