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Board authorizes opening accounts at Equitable Bank to invest reserves and support foundation
Summary
The board authorized the superintendent to open bank accounts with Equitable Bank to invest cash reserves and channel some interest proceeds to the district foundation to support the fellowship program.
The Grand Island Public Schools Board on June 11 authorized the superintendent or his designee to open accounts with Equitable Bank to invest cash reserves and direct interest proceeds to the district foundation.
Mr. Matt Fischer explained the district has previously established relationships with local banks to deposit certain reserves and wants to duplicate that arrangement with Equitable Bank. He said part of the arrangement would allow interest proceeds to be channeled to support the foundation’s fellowship program.
A motion to authorize the superintendent or designee to open accounts and invest cash reserves at Equitable Bank was seconded and approved by the board. The meeting summary records the motion as passed but does not provide a roll-call tally.
