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Onley council approves CD rollover, gift‑card tax relief, RFP for audit and holiday purchases
Summary
Council approved rolling over a $517,956.41 CD into a 7‑month certificate at 4.75%, authorized purchasing 160 Food Lion gift cards for tax relief ($12,000), approved holiday decorations and several routine minutes/adopt/pay motions, and authorized an RFP for the 2023–2024 audit.
At its Sept. 4 meeting, the Onley Town Council approved several financial and community measures: rolling over a maturing CD at Atlantic Union Bank, purchasing Food Lion gift cards for tax relief distribution, issuing an RFP for the 2023–2024 audit, and buying holiday decorations for town property.
Clerk/Treasurer Jamye Salazar reported a CD at Atlantic Union Bank for $517,956.41 was maturing Sept. 9 and presented options. On a motion by Councilman Brian Corbin, seconded by Councilman Woody Zember, Council voted to roll the funds into a 7‑month CD at a 4.75% interest rate. Salazar also recommended purchasing 160 $75 Food Lion gift cards ($12,000) to supplement 40 cards remaining from the prior year for a total of 200 cards to distribute to eligible residents and property owners; Council approved the purchase. VML advisor Michelle Gowdy told Council she did not believe councilmembers receiving cards would create a conflict of interest because the benefit would be available to all taxpaying residents.
Council also authorized issuing an RFP for the 2023–2024 audit and approved purchasing holiday lighting (an 18' park tree, 3' topper and 286' traditional lights for utility poles) after Ms. Rillo presented vendor estimates. The council approved routine payables and adopted minutes from prior meetings as recorded in the meeting packet.
Why it matters: The CD rollover is a large cash‑management decision; the gift‑card program is a direct tax‑relief measure targeting property owners and renters who can prove residency; and the RFP sets the audit process for the town’s next financial reviews. Council recorded eligibility rules for gift‑card distribution (one per household, property taxes paid).
Next steps: The town will place the CD in the 7‑month instrument at Atlantic Union Bank, issue the audit RFP, order the Food Lion cards for distribution, and proceed with holiday decor installation bids as discussed.
