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Council approves CD rollovers and moves $25,000 to vehicle/tractor CD
Summary
Treasurer Tracey McCay reported balances and the council approved rolling two maturing CDs and moving $25,000 (vehicle/tractor funds) into a new CD to earn interest; both actions passed on 3-0 roll calls.
Treasurer Tracey McCay told the council the Pokagon Fund balance remains $43,329 and recommended rolling over two CDs that mature in September. The council approved the rollovers (water CD at 1st Source for about six months and a General CD at Chase for about nine months) on a 3-0 roll call.
McCay also recommended consolidating $25,000 (set aside annually: $10,000 for a police vehicle every five years and $15,000 for a tractor over six years) into a CD to earn more interest. Brian Cassidy moved to move the $25,000 into a CD; the motion passed by roll call 3-0.
