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Glassport moves $300,000 to CD, approves $862,831.37 in general-fund bills; council president files abstention
Summary
Council approved a $300,000 transfer from the Sewer Fund to a 3-month CD at 4.25% and authorized payment of $862,831.37 in general fund bills (with Council President Anthony Colecchi abstaining and filing an abstention memorandum citing payments to his company).
Council approved a motion to transfer $300,000 from the Sewer Fund Money Market account into a 3-month certificate of deposit at Brentwood Bank with a fixed interest rate of 4.25%. The transfer passed with four affirmative votes and three absences. Treasurer Elaina Skiba provided the report and council also approved the monthly financial reports.
Council subsequently approved payment of General Fund bills for January in the amount of $862,831.37. The minutes record that Council President Anthony Colecchi abstained from the vote; Colecchi filed an abstention memorandum stating, in part, "Bills paid to my Company - Colechis Lock Safe, INC." The motion to pay Sewer Revenue Fund bills for January ($44,289.72) also passed.
