Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
WCIDA Finance Committee recommends reinvestment of maturing CD at Savannah Bank with 13‑month option
Summary
The WCIDA Finance Committee reviewed reinvestment options for a maturing certificate of deposit and recommended investing in a 13‑month Savannah Bank CD at a 3.5% rate; the committee also reviewed 2026 insurance rates and confirmed a Macedon property remains insured.
At its March 24, 2026 meeting, the WCIDA Finance Committee reviewed options for a maturing certificate of deposit and recommended the board approve reinvestment with Savannah Bank for a 13‑month term at a 3.5% interest rate. Fiscal Officer Ryan Gentile presented the options and recommended Savannah Bank based on the 3.5% return; Deputy Director Katie Bronson clarified that the maturing CD is currently held at LNB.
The committee also reviewed the proposed 2026 insurance rates. Members asked whether a property in Macedon was still listed on the policy; Bronson confirmed it remains listed. The Finance Committee recommended the board approve the recommended reinvestment. The committee adjourned at 9:06 A.M.; the next meeting is Oct. 19, 2026 at 8:00 A.M.
