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Michiana council approves CD-rate change, $162,192.46 check register and 9% salary increase after closed session
Summary
Council approved adjusting a CD reinvestment rate to 3.75%, ratified a $162,192.46 check register and, after a closed-session review of an attorney-client letter, approved a 9% increase to the total salary budget for Public Works and the Village Office.
The Village of Michiana council handled multiple financial and personnel actions at its Sept. 6 meeting, approving changes the treasurer said will help the village respond to declining CD rates and authorizing a pay adjustment for two departments.
Treasurer Tracey McCay reported no new Pokagon Fund statement and asked the council to amend the default CD reinvestment rate from 4% to 3.75% to reflect falling rates; Tim McCarthy moved to amend and Nancy Thill seconded. The council approved the change on a 5–0 roll-call vote.
Clerk Anne Heywood presented a check register totaling $162,192.46; Tim McCarthy moved to approve the register, Mike Botelho seconded and the motion passed.
The council convened a closed session under Section 8(H) of the Michigan Open Meetings Act to consider an attorney-client privileged letter; after returning to open session at 3:50 p.m., Tim McCarthy said the council — following discussions with Village Attorney Sara Senica — would implement a 9% increase to the total salary budget for the Department of Works and the Village Office. McCarthy moved to approve the 9% increase, Mike Botelho seconded, and the motion passed. The motion states the increase will take effect on the next payroll once each affected employee has met with a council member.
Minutes and prior administrative approvals were also ratified by unanimous votes during the meeting. The council set the next meeting for Oct. 11, 2024, at 12:00 p.m. EST.
