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Board moves maturing CD into operating account; discusses higher-yield options
Summary
A certificate of deposit maturing in June (~$19,895.84) will be moved into the operating account; board discussed Raymond James yields and the possibility of shifting larger balances for higher returns but moved the maturing CD to operating now.
Board reviewed disposition of a certificate of deposit maturing 06/05/2026 (approximately $19,895.84).
Members discussed local banking options and a Raymond James option yielding higher rates (cited ~3.4% or 3.49% for certain instruments). Given timing and convenience, the motion on the floor to move the maturing CD into the district’s operating account passed on roll call.
Board members noted that larger balances could be placed in higher-yield vehicles (with account minimums or limits) but decided to move the small maturing CD to operating and revisit larger portfolio decisions once staff identifies available balances and options.
