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City treasurer asks council to close matured bond and bank accounts, introduces new deputy
Summary
City Treasurer Lori Barnwell asked the council to close a capital improvement bond account that is fully drawn down, introduced her new deputy Diane Young, and secured approvals to close other bank accounts and to open a City of Warren money market account at CIBC.
City Treasurer Lori Barnwell appeared before the council to request several ministerial treasury actions: approval of a $14,910 payment to the IRS for 2024–25 PCORI fees, closure of a Huntington Bank capital improvement bond account that is nearly fully drawn down, and authorization to open a CIBC money market account titled the City of Warren money market account.
Barnwell introduced her new deputy, Diane Young, saying Young "is already entering tax payments" and has extensive private-sector financial experience. Barnwell explained that bond proceeds sit in separate accounts and that the bond in question has been drawn down to the point where closing the account is appropriate and routine. Council moved, seconded and approved the requests; motions carried as recorded.
