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Council moves $300,000 into 3-month CD and approves $862,831 in general fund bills; president abstains
Summary
Treasurer presented reports; council approved transferring $300,000 from the Sewer Fund to a 3‑month CD at Brentwood Bank at 4.25% and authorized payment of $862,831.37 in General Fund bills (with Council President Anthony Colecchi abstaining because his company received payments).
Treasurer Elaina Skiba presented the monthly financial reports. Council voted to transfer $300,000 from the Sewer Fund money market account into a three-month certificate of deposit at Brentwood Bank with a stated fixed interest rate of 4.25% (motion passed Yes 4 No 0 Absent 3).
Council also approved payment of General Fund bills for January totaling $862,831.37. The roll call on that motion recorded votes from DeVerse, Kowalski and Stecak as yes and an abstention from Council President Anthony Colecchi; an abstention memorandum filed by Colecchi states payments were made to his company, Colechis Lock Safe, INC, and cites Pennsylvania's Public Official and Employee Ethics Law as the reason for the abstention. Council approved Sewer Revenue Fund bills for January totaling $44,289.72 (Yes 4 No 0 Absent 3).
