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Lynn Township authorizes CD cash-ins, opens farmland preservation account and formalizes employee pay raises
Summary
The board voted Oct. 9 to cash a $100,000 Capital Reserve CD, open short-term CDs, open a Farmland Preservation account to receive $4,000 in private donations, authorize advertising for a CPA audit, and formalize employee pay increases effective Oct. 7.
At its Oct. 9 meeting Lynn Township's board approved several financial and administrative actions intended to manage near-term cash and complete routine administrative requirements.
The board voted unanimously to cash a $100,000 Capital Reserve certificate of deposit and to open two new individual CDs using $30,000 each for terms of 91 days (3.92%) and 182 days (3.73%), with the remaining $40,000 moved to the General Fund. The motion also included reinvesting one REC and one Equipment CD for 182 days at 3.73% and reinvesting an REC and an Equipment CD for 13 months at 3.44%.
Separately, the board unanimously voted to open a Farmland Preservation account at NTB and deposit $4,000 in private donations into it. The board also authorized advertising to solicit a CPA to conduct the 2025 audit.
On personnel matters, the minutes show the board held executive sessions on Sept. 30 and earlier on Oct. 9 regarding an employee matter and formalized pay increases in a unanimous motion: David Snyder to $24/hour and Robert White to $20.50/hour, effective Oct. 7. The minutes record motions and approvals but do not provide detailed salary schedules beyond the two adjustments.
The minutes include written account balances and monthly profit-and-loss totals reported as of Oct. 31, 2025; the minutes present these figures in summary form but do not attach supporting bank statements in the meeting record.
