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Dakota Dunes CID approves $392,817.57 in vouchers and moves maturing CDs to Pioneer Bank
Summary
The board approved September financial statements and October vouchers payable totaling $392,817.57, and authorized transferring two $500,000 CDs maturing Oct. 28, 2025, from Security National Bank into a Pioneer Bank money-market account.
At the Oct. 20 meeting the Dakota Dunes CID Board approved the September 2025 financial statements and October 2025 vouchers payable totaling $392,817.57 (motion by Mr. Shorma; second by Ms. Finzen). The motion passed 4-0.
Board members also reviewed Certificate of Deposit rate quotes (banks and quoted terms were provided on a table in the minutes) and approved transferring two General Fund CDs (#1 and #2), each $500,000 and maturing Oct. 28, 2025, from Security National Bank into the General Fund money market account at Pioneer Bank. The interest earnings from those maturing CDs will be deposited into the Pioneer Bank money market account. The motion passed 4-0.
The minutes list quoted rates from multiple local banks for several CD terms; board members said the transfer and deposit instructions were intended to preserve liquidity while earning competitive interest. No changes to spending authorizations were recorded at the meeting.
No direct verbatim quotes were recorded in the minutes; the article uses the financial figures and motions recorded in the meeting minutes.
