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Sheffield trustees vote to reinvest maturing CDs in 9-month special at 3.75%
Summary
Trustees approved reinvestment of three General Fund CDs and one TIF Fund CD maturing April 25, 2026, into a Peoples National Bank 9-month special CD with a 3.75% interest rate; motion carried 5-0.
The Board reviewed several maturing certificates of deposit and, after discussing liquidity considerations, voted to reinvest three General Fund CDs and one TIF Fund CD maturing April 25, 2026 into a Peoples National Bank 9-month special CD at a 3.75% interest rate.
Clerk Ries explained timing and cash flow considerations (other CDs maturing in fall 2026 and property-tax disbursements) and noted the Board could cash in a CD if necessary. Trustee Taylor moved and Trustee Adams seconded the reinvestment motion; roll call recorded five ayes and the motion carried 5-0.
The reinvestment decision was discussed alongside other budget items and is part of routine cash-management practice recorded in the meeting minutes.
