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Prue board approves encumbrances, $191,843.75 sinking-fund payment and $400,000 CD
Summary
The Prue Public Schools Board approved multiple financial items Jan. 13, including general fund encumbrances, a $191,843.75 sinking-fund payment to UMB Bank, and a $400,000 CD investment at American Heritage Bank for a six-month term at 4.25% (4.34% APY).
The Prue Public Schools Board approved a series of financial motions during its Jan. 13 meeting. General Fund encumbrances approved included a $400.00 Pitney Bowes ink purchase and a $2,500.00 payment to the Osage County Election Board; motions for these payments passed unanimously by roll-call vote.
The board approved Sinking Fund Encumbrance #3, authorizing a payment of $191,843.75 to UMB Bank, N.A. That motion was moved by Vice-President Bethanie Horton, seconded by Heather Jordan, and passed on a unanimous vote. The board also approved investing $400,000.00 in a six-month certificate of deposit at American Heritage Bank at a stated rate of 4.25% and a 4.34% annual percentage yield.
The meeting minutes record motions and unanimous roll-call votes for each financial item but do not include staff commentary on the district’s cash position or projected interest income from the CD.
