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Michiana council approves CD rollovers and moves $25,000 into vehicle savings
Summary
Treasurer Tracey McCay reported two CDs maturing and the council approved rolling the water CD at 1st Source and the general CD at Chase; the council also authorized moving $25,000 (budgeted for a police vehicle and tractor) into a vehicle CD by roll call, 3–0.
Treasurer Tracey McCay told the council she had not yet received an updated statement from the Pokagon Fund (balance $43,329) and recommended rolling two maturing CDs: the water CD at 1st Source for at least six months and the General CD at Chase for at least nine months. The council approved the rollover motions.
McCay also recommended moving $25,000—comprised of $10,000 budgeted annually toward a police vehicle (every five years) and $15,000 for a tractor (over the next six years)—into a CD to earn more interest. Brian Cassidy moved and Mike Botelho seconded the transfer; a roll call vote was taken with 3 ayes and 0 nays, and the motion passed.
