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Irwin council approves $50,000 transfer to CD, authorizes limited-use debit card
Summary
The Irwin City Council approved transferring $50,000 from the operating account into a CD and authorized a debit card with a limited dollar amount for small purchases. Treasurer Kelly Palmer will initiate the transfer and the council recorded the approvals at the Oct. 1 meeting.
The City of Irwin City Council on Oct. 1 approved moving $50,000 from the city’s operating account into a certificate of deposit and authorized obtaining a debit card with a limited dollar amount for small purchases. Treasurer Kelly Palmer reported the transfer would allow the city to earn CD interest up to the term limit in February and said she will initiate the transfer.
Council discussion on the treasurer’s report resulted in formal approval of both items; the minutes state, “Council approved to transfer $50,000.00 to CD account. Kelly will initiate transfer. b) Council approved obtaining a debit card with limited dollar amount for small purchases.” The actions were recorded in the meeting minutes and no vote tally was provided in the transcript.
