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Rocky Point board weighs options for locked CD and moving funds to interest-bearing account
Summary
President Sandy Handsaker told the board the department's certificate of deposit is locked until October; the board discussed moving funds in October to increase returns and to make funds more available, and asked David Carpenter to prepare details for a March 23 work session.
President Sandy Handsaker reported on banking business and said the department’s certificate of deposit is locked until October. The board discussed whether to invest additional funds or to transfer money into an interest-bearing checking account when the CD matures to increase income and to improve liquidity.
Treasurer David Carpenter was asked to prepare options and present ideas at the March 23 work session so the board can decide whether to move funds after the CD unlocks in October. The discussion was recorded as guidance only; the board did not take a binding vote on investment strategy at the March 9 meeting.
