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Tom Bean ISD board authorizes closure of Cadence Bank money market account
Summary
Trustees voted 5-0 to close a money market account at Cadence Bank on the recommendation of the district Chief Financial Officer and superintendent.
Trustee Tom Sharp moved that the district close the money market account at Cadence Bank "as recommended by the Chief Financial Officer and Superintendent;" Trustee Beth Hale seconded and the motion passed 5 in favor, 0 opposed, 2 absent.
The minutes record the action but do not specify the account balance, the reason beyond the CFO's recommendation, or the timeline for transferring funds. The Superintendent and the Chief Financial Officer are noted as having recommended the closure; the CFO's name was not specified in the transcript.
