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Board approves Activity Fund sweep account at IBC Bank per auditor recommendation
Summary
The board approved opening an Activity Fund Sweep Account with IBC Bank following the auditor’s recommendation; the motion passed unanimously Feb. 23, 2026.
The Santa Fe South Schools board voted 5–0 to authorize opening an Activity Fund Sweep Account with IBC Bank after the auditor recommended the step. Dr. Ed Frick moved to approve the account; Susan Agel seconded and the motion passed unanimously.
Meeting minutes record the action as an administrative banking change recommended by the auditor; the minutes do not specify the initial deposit amount or additional account terms. The approval appears under Agenda Item 2 and was entered into the official minutes.
