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North Chevy Chase treasurer reports $3.12M in assets, moves $245,000 CD to higher rate
Summary
Treasurer Geetika Sripathi told the Village Council the year-to-date income through January was $316,413, operating expenses $252,675, and village assets totaled $3.12 million; a $245,000 CD matured and was moved to First Horizon at 3.7%. The council accepted the report.
The Village of North Chevy Chase council accepted a financial report on Feb. 17 showing year-to-date income of $316,413 and operating expenses of $252,675 for the period July 2025 through January 2026.
Treasurer Geetika Sripathi reported that village assets totaled $3.12 million and total liabilities were $31,443 as of Jan. 31. She said a $245,000 certificate of deposit with UBS matured on Jan. 26 and the funds were transferred to a new CD with First Horizon paying 3.7 percent. Sripathi also noted an upcoming CD maturity with Atlantic Union and told the council there is an opportunity to consider further diversification of the Village’s investments.
The treasurer said the balance sheet and expense‑versus‑actual reports now use new formats developed with accounting/auditing firm LSWG to “enhance transparency with expenses and Village investments,” and the council accepted the January treasurer reports as presented.
The council also approved a $2,000 contribution from the FY26 budget to Montgomery Municipal Cable to cover roughly the fees received to date; the future of that practice will be revisited during FY27 budget discussions.
Next steps: the council will consider investment options when the Atlantic Union CD matures and will review budget priorities during the FY27 planning process.
