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New Bremen council approves consent agenda, transfers $2.6 million to higher-yield account
Summary
At its May 27 meeting, the New Bremen council approved the consent agenda and authorized moving $2,600,000 from First National Bank to Star Ohio to earn a higher rate; the finance report showed May expenditures of $1,059,163.46 and April receipts of $2,932,974.64.
The Council of the Village of New Bremen on May 27 approved its consent agenda and recorded several finance actions, including a transfer of $2,600,000 to a higher-yield account.
On a motion by council member Larger, seconded by Bertke, the council approved the consent agenda, which included the meeting agenda, minutes from the May 12, 2025 regular meeting, and the finance report. The motion passed with four ayes; those present at roll call were Burnell, Hurley, Larger and Bertke. The finance report listed May expenditures of $1,059,163.46 and total receipts for April of $2,932,974.64. The finance committee reviewed bank reconciliations for April.
Council then moved $2,600,000 of excess cash from First National Bank to the Star Ohio account “for higher rate,” a transfer that was seconded by Bertke and recorded as passing with four ayes. The transfer and the reported balances were discussed as routine cash-management actions during the finance report; no dissent or abstentions were recorded in the minutes.
The meeting record does not show additional discussion of how soon the funds will be available for use or any restrictions on the transferred monies. The council adjourned at 6:42 p.m.
