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Council reviews CD options and approves $87,049.40 check registry
Summary
Treasurer Tracey McCay reported a Pokagon Fund balance of $51,000 and presented CD rollover options; Council agreed to review CD rates at a minimum of 3.25%. The Council also approved the check registry totaling $87,049.40.
Treasurer Tracey McCay told the Council the Pokagon Fund balance is $51,000 and presented two Chase CD rollover options: five months at 3.9% or ten months at 3.25%. Council discussed whether to retain a previously adopted minimum threshold of 3.5%.
"I move to review CD rates at a minimum of 3.25% or higher," Tim McCarthy said; the motion was seconded by Mike Mumper and approved unanimously. The Council discussed investment options and directed staff to proceed consistent with that threshold.
Clerk Anne Heywood presented a check registry totaling $87,049.40. Tim McCarthy moved to approve the registry, Nancy Thill seconded, and the Council approved the payment list unanimously.
