Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Supervisors approve financial security releases, bills and $1,000,000 interfund transfer
Summary
The board approved releases for completed stormwater projects (20 Bruner's Grove Road and 208 Mustang Trail), several lists of bills across funds, electronic payroll transfers, and an interfund transfer of $1,000,000 to earn higher interest at a money-market account.
East Cocalico Township supervisors on June 4 approved a series of routine financial transactions, including two releases of financial security for completed stormwater work, multiple bill lists across township funds, and a $1,000,000 interfund transfer to increase interest earnings.
Assistant manager Rich Sickler recommended release of the financial security for the stormwater management at 20 Bruner's Grove Road; the board moved and approved the release. The board likewise approved a small release for site improvements at 208 Mustang Trail; Sickler identified the Mustang Trail release amount as $5,779.
The board approved bills from multiple funds: escrow fund payments of $3,533.02 and $1,716; general fund payments of $121,110.97 and $13,376.34; a light‑fund correction of $7,894; and an electronic payroll transfer for the May 3–16 pay period totaling $108,471.25. Supervisors also authorized an interfund transfer of $1,000,000 from Ephrata National Bank to a general fund money-market account at Unibest to seek higher interest returns.
Nut graf: The approvals reflect routine township financial management of completed infrastructure securities, vendor payments and cash‑management decisions; the $1,000,000 transfer was presented as a cash‑management move to place collected tax receipts into a higher‑yield vehicle.
Next steps: Finance staff will execute the transfers and record the releases; the board will continue to monitor fund balances in subsequent meetings.
