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Board opts to reinvest expiring district CD locally at D.L. Evans
Summary
Trustees voted 5-0 to reinvest a maturing 12-month CD at D.L. Evans Bank at an offered rate of about 3.9%, preferring the local, fully insured instrument over the LGIP.
The Snake River School Board agreed to reinvest an expiring 12-month certificate of deposit with a local bank rather than moving the funds to the state Local Government Investment Pool (LGIP).
Trustees reviewed options ahead of the CD’s March 19, 2026 maturity. The board discussed LGIP rates (noted around 3.8%) and an offer from D.L. Evans Bank of approximately 3.9% for a 12-month, fully insured CD with quarterly compounding and early withdrawal flexibility. Trustees indicated a preference to keep funds locally and accepted the bank’s offer.
Carol Hepworth moved and Larin Mortimer seconded the motion to reinvest in a 12-month fully insured CD at D.L. Evans; the motion passed 5-0. The minutes record the comparative rates and the board’s preference but do not list the CD principal amount.
