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Supervisors approve $450,000 transfer to Edward Jones, authorize payment of bills
Summary
The board authorized staff to move $450,000 from a park-rental account to Edward Jones seeking higher returns and approved payment of the township's September bills; details on vote tallies and mover/second names were not recorded in the transcript.
Supervisors voted to transfer $450,000 from the township's 'Veter Park rental' account into Edward Jones to seek a higher long-term yield, staff said.
Manager-level staff reported discussions with a financial contact, saying they could move funds into a money-market or Edward Jones accounts to improve returns and that moving the funds could take up to 90 days or be done immediately. The board then moved to transfer $450,000; the motion was seconded and approved by voice vote (individual votes were not recorded in the transcript).
The board also moved and approved payment of the townships bills for September by voice vote. No changes to budget appropriations or project-specific expenditures were discussed during the votes recorded at the meeting.
Manager said they had asked a contact (named in the meeting as Tyson Edward Jones) to look for better long-term rates and that staff were authorized to proceed with the transfer to realize higher returns.
