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Board creates custodial fund to act as fiscal agent for Suburban Health Consortium
Summary
The board authorized creation of Fund 026 to serve as custodial (fiscal agent) for the Suburban Health Consortium, approving administrative steps for BBH to hold and manage member funds starting Oct. 1, 2025.
On Oct. 13 the Brecksville-Broadview Heights Board approved a resolution establishing an Employee Benefits Custodial Fund (Fund 026) so the district can serve as fiscal agent for the Suburban Health Consortium effective Oct. 1, 2025. The resolution directs the Treasurer to open USAS Fund 026 and authorizes the Treasurer to execute documents necessary to manage receipts and disbursements for the consortium.
Treasurer Craig Yaniglos said the custodial arrangement will require multi-step accounting and that the fund will be used to account for monies received from employee-benefits self-insurance and pooled arrangements. The board approved the resolution 4-0. The action includes language that any transfer or amendment to the fund would return principal to the Consortium or a successor fiscal agent on closure.
