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Land Bank treasurer reports $327,474.13 in Star Ohio account; April DTEQ deposit $93,764.11
Summary
Treasurer Gary Merrill reported an April DTEQ deposit of $93,764.11, $80,000 transferred to Star Ohio, three months of checks totaling nearly $75,000, and a Star Ohio balance of $327,474.13; the report was approved by the board.
Treasurer Gary Merrill delivered the financial update for the period ending June. He said, "April, we had 1 deposit of DTEQ revenue of $93,764.11," and that the land bank transferred $80,000 to the Star Ohio account in April. Merrill reported checks written during the period totaling $66,425.20 in April, $6,480.61 in May and $2,131.12 in June, with the bank balance (operating account) at the end of June of $22,270.53 and the Star Ohio account balance at $327,474.13. Year-to-date interest in Star Ohio was reported as $5,394.56.
The chair moved to accept the treasurer's report; the motion was seconded and approved by voice vote. Board members discussed using recurring DTEQ revenue and part of the Star Ohio balance to seed local grant programs and other mission-driven work rather than leaving funds idle.
