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Clifton board moves $1.3 million into NYClass investment account
Summary
At its Oct. 8 meeting the Town of Clifton board approved moving $1.3 million from various general and highway accounts into a NYClass investment account; the motion passed unanimously (4–0).
At its Oct. 8 meeting in Newton Falls, the Town of Clifton board voted to transfer $1,300,000 from multiple town accounts into a NYClass investment account. The motion to transfer funds was made by Council Member Brett Blackmer and seconded by Council Member Mary Zuhlsdorf; the vote was recorded Yes = 4, Noes = 0, motion carried.
The transfer pooled $500,000 from General AP Checking, $500,000 from General Cash in Time, $200,000 from AP Checking Highway Fund and $100,000 from the Highway Cash-Special Reserve Fund into NYClass. Council Member Brett Blackmer moved the action and the minutes record the motion verbatim: "A motion was made by B. Blackmer with a 2nd by M. Zuhlsdorf to move $500,000 from the General AP Checking, $500,000 from the General Cash in Time, $200,000 from the AP Checking Highway Fund and $100,000 from the Highway Cash-Special Reserve Fund to the NYClass investment account. Yes = 4, Noes = 0, Absent = 0, motion carried." The minutes do not record further discussion or a stated rationale for the allocation.
