Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance Reserves topic
No spam. Unsubscribe anytime.
Cerro Gordo sets up Illinois Funds accounts, moves money into reserves
Summary
The village opened Illinois Funds accounts and moved initial reserves: General $800,000, Sewer $200,000, Business District $150,000. Trustees asked Attorney Susan Nicholas to prepare resolution wording and to show Illinois Funds balances in monthly financial reports.
The Village of Cerro Gordo established Illinois Funds accounts and completed initial transfers into those accounts during the July 21 meeting. Officials reported the General Account holds $800,000, the Sewer Account $200,000 and the Business District Account $150,000.
Trustees asked Attorney Susan Nicholas to draft revised resolution language for the record and directed staff to include Illinois Funds balances in monthly financial reports going forward. The change centralizes short-term investments and reserve balances in the village’s investment account.
