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Salem supervisors move $1 million to short-term CD, increase card limits and approve staffing actions
Summary
Board transferred $1 million to a three‑month CD to capture higher interest, raised township MasterCard limits to $20,000 total, approved fire department disbursements, and authorized advertising for an Assistant Secretary‑Treasurer and staff training.
Salem Township supervisors on Jan. 21 approved several administrative and financial measures intended to improve cash returns, handle growing workload and support emergency services.
The board unanimously authorized transferring $1,000,000 from the general fund into a new three‑month certificate of deposit to take advantage of CD rates above current money‑market yields. The meeting minutes note money‑market rates had fallen from 2.85% to 1% while CD rates were over 3%.
Supervisors also voted to increase the First Commonwealth Bank MasterCard program’s combined maximum from $10,000 to $20,000, split across three users: Secretary‑Treasurer Kelly Otto ($10,000), Todd Paulich ($8,000) and Kerry Jobe ($2,000). The change followed a request from Todd for a card and computer to order parts.
Other personnel and funding actions included approving a one‑time $60,000 disbursement from the General Fund to be split equally between Forbes Road Volunteer Fire Department and Slickville Volunteer Fire Department (a matter the board said had been omitted from the prior cycle), and authorizing advertisement for a part‑time or full‑time Assistant Secretary‑Treasurer to fill a vacancy. Supervisors agreed staff who attend training should be paid wages for time spent and separately authorized Fred Cecchini to register for a Building Code Enforcement course at a cost of $650 plus mileage and wages.
All related motions carried unanimously.
