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Council reinvests wastewater funds into six-month US Treasury after maturity
Summary
Council approved rolling a matured US Treasury holding for wastewater funds (matured 12/19/2024) into a six-month Treasury at 3.95%; Treasurer Dawn reported the holding earned $133,833.44 and the balance is $5,477,037.29.
The council voted to roll a matured US Treasury holding for wastewater-treatment funds into a six-month Treasury at the currently offered 3.95% rate.
Dawn reported the original Treasury was opened in June 2024 at $5,342,166, matured on Dec. 19, 2024 at $5,476,000 and earned $133,833.44; she gave the then-current balance as $5,477,037.29 and recommended reinvesting for six months to evaluate rates later.
"They have a 6 month for 3.95% and a 1 year treasury for 3.9," Dawn told the council before moving the recommendation. A motion to reinvest for six months was made and seconded; there were no recorded questions and the motion carried on a voice vote.
Council instructed staff to proceed with the reinvestment; no additional allocations or transfers were approved at the meeting.
