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Board names depositories, authorizes signatories and appoints Plante & Moran auditor
Summary
The Lake Shore Board adopted resolutions naming investment and checking depositories, authorized signature protocols and appointed Plante & Moran as Auditor of Record for 2024/25.
At its Jan. 6 meeting the Lake Shore Board adopted resolutions naming Flagstar Bank, Huntington Bank, Michigan First Credit Union, MI Liquid Asset Fund c/o PFM Asset Management, Baker Tilly Municipal Advisors and UMB Bank as depositories for investment funds for 2025. The board separately adopted a resolution for depositories for savings and checking accounts.
The board also authorized that payroll, general fund, food service and other fund checks be electronically signed by the Board Secretary and Treasurer, authorized the Superintendent or his designee to sign federal aid applications and contracts in keeping with district by-laws and policies, and authorized the Director of Special Programming to sign contracts for that department. Plante & Moran was appointed as the Auditor of Record for fiscal year 2024/25.
Motions were carried by recorded vote with six yeas and one absence. The board recorded one abstention "with conflict" earlier on counsel appointments but none on the financial resolutions.
