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Snake River trustees move $1.15 million CD into Idaho LGIP for flexibility amid revenue uncertainty
Summary
The board voted to not renew a maturing 12-month CD of about $1.15 million at D.L. Evans and instead move the funds into the Idaho Local Government Investment Pool (LGIP) to preserve liquidity and flexibility amid concerns about state revenue forecasts.
The Snake River School Board on Feb. 18 decided not to renew a 12-month certificate of deposit at D.L. Evans Bank and to transfer the roughly $1.15 million to the Idaho Local Government Investment Pool (LGIP).
Administrators reported the CD, maturing March 19, 2026, had earned about $40,000 at an effective 4.35% this term. The district solicited proposals from several institutions, including New York Life (National and Securian), Frontier Credit Union, D.L. Evans Bank and Zions Bank; staff also presented LGIP rates, which ranged roughly from 3% to 4.8% in the materials shown to trustees.
Board members discussed liquidity needs, laddering strategies and anticipated capital requirements. Superintendent Mark Kress and Harmony Shuler reviewed options; Trustee Josh Sorensen moved to transfer the CD funds into the LGIP and Trustee Larin Mortimer seconded. The motion passed unanimously, 5-0.
The board did not specify in the meeting minutes whether staff will re-evaluate investment choices at a set future date; minutes note the board retains the option to reconsider alternatives later.
