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Michiana council sets minimum CD review threshold amid Pokagon Fund update
Summary
Treasurer Tracey McCay reported a Pokagon Fund balance of $51,000 and presented two CD rollover options; council voted to review CD rates at a minimum of 3.25% or higher and approved the check registry totaling $87,049.40.
Treasurer Tracey McCay told council Sept. 5 that the Pokagon Fund balance stands at $51,000 and presented two options for a forthcoming Chase Bank CD rollover: five months at 3.9% or ten months at 3.25%.
Council previously had a 3.5% minimum threshold for CD investments; on a motion by Tim McCarthy seconded by Mike Mumper, the council voted to review CD rates at a minimum of 3.25% or higher. Clerk Anne Heywood presented the check registry for $87,049.40, and the council approved it unanimously.
