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Treasurer recommends — and commissioners approve — 12-month renewal of $20 million CD with Bravera Bank
Summary
Treasurer Jessica Niemitalo recommended renewing a $20 million certificate of deposit with Bravera Bank for 12 months; the board approved the renewal and directed that checks and ACH processing return in-house to the Auditor/Treasurer on Jan. 1, 2025.
Treasurer Jessica Niemitalo told the board she recommended renewing a $20,000,000 certificate of deposit (CD) with Bravera Bank for 12 months; the board approved the renewal by unanimous roll call (mover: Comm. Hollekim; second: Comm. Olson). The minutes record the amount and term explicitly.
Niemitalo also said the county will bring all checks and ACH processing back into the Auditor/Treasurer’s office beginning Jan. 1, 2025, citing problems with the current vendor Integrated Payables. The change was presented as an operational decision; no motion text beyond the CD renewal is recorded for the processing change.
