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Royalton board names depositories, updates signers and delegates investment authority
Summary
The board named Pine Country Bank, Minnesota School District Liquid Asset Fund, MN Trust (PMA) and Business Manager Heidi Hagen as the district's official depositories/authorized investor and updated authorized signers, removing Angela Roering and adding Jon Andres.
The board approved institutional depositories and financial signatory updates at the Jan. 13 meeting. The district named Heidi Hagen, Pine Country Bank, the Minnesota School District Liquid Asset Fund, and MN Trust (PMA) as official depositories for Royalton Public School District funds and continued Rian Hofstad (Chair), Maria Traut (Treasurer) and Heidi Hagen (Business Manager) as authorized signers on certificates of deposit.
The minutes record that former School Board Clerk Angela Roering was removed as an authorized signer effective Jan. 13, 2025, and that Director Jon Andres was added as an authorized signer. The board also authorized Heidi Hagen to invest district funds and delegated authority to her to make electronic fund transfers; both motions passed unanimously (Yea: 6, Nay: 0).
