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Council okays CD rollover condition and approves $48,560.77 in checks
Summary
Council voted to roll over a maturing CD only if its renewal rate does not fall below 3.5%, and approved the check register for $48,560.77 as submitted.
Treasurer Tracey McCay reported a Pokagon Fund balance of $47,661 and explained the council’s auditor-recommended pooling of bank accounts. She said a CD at 1st Source is maturing before the next meeting and asked whether the council would allow a rollover.
Council member Tim McCarthy moved that the CD be rolled over only if the renewal rate is above the 3.5% floor set by the council; Brian Cassidy seconded the motion and it passed. Separately, Council approved the submitted check register totaling $48,560.77 on a motion by Mike Botelho with a second from Mike Mumper.
