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Lansing police pension board transfers $22,000 to BMO to cover January payments
Summary
At its Jan. 15 meeting the Lansing Police Pension Fund Board approved a $22,000 transfer from the Old Plank Trail account to the BMO account to cover January payments and expenses; the motion passed by roll call vote with four ayes and one absent.
The Lansing Police Pension Fund Board on Jan. 15 approved a $22,000 intra-account transfer to ensure sufficient funds for January payments and expenses. Treasurer Brian Hanigan reviewed account balances before the vote; the transfer was moved by Trustee Sharon Novak and seconded by Trustee Matt Prendergast and passed by roll call vote with Trustees Novak, Prendergast, Schlesser and Talavera-Little voting yes and Trustee Gina Aguilar absent.
"A motion was made by Trustee Novak and seconded by Trustee Prendergast to transfer $22,000 from the Old Plank Trail account to the BMO account." The action was described as a short-term cash-management step; the Board reviewed the Cash Management Policy and determined no changes were necessary at this time. The board recorded no votes against the transfer.
