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Treasurer moves to roll over maturing CDs and place $25,000 reserve into vehicle CD
Summary
Treasurer Tracey McCay asked the council to roll over two maturing CDs and to move $25,000 (vehicle and tractor reserves) into a CD; the council approved both motions by roll call (3–0).
Treasurer Tracey McCay reported on funds and proposed short-term reinvestments during the Aug. 9 meeting. Tracey said "we have not received a new statement from the Pokagon Fund so the balance is still $43,329," and requested approval to roll over two maturing CDs: the water CD at 1st Source (approximately six months) and the general CD at Chase (approximately nine months).
Tracey also asked to move $25,000 (comprised of the $10,000 annual police vehicle reserve and $15,000 for a tractor) into a CD to earn more interest. Council member Brian Cassidy moved the rollovers and the motion to move the $25,000 was seconded by Mike Botelho; both motions passed on a 3–0 roll call vote.
