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Council authorizes short-term CD transfers, approves treasurer's report
Summary
After an update showing improved water fund performance, the council authorized the city clerk to move some checking-account funds into 12-month CDs following consultation with the accountant and approved the treasurer's report unanimously.
The finance report showed that the water fund has improved and other funds remain on track for the year. Accountant Brian Nyp recommended shifting some funds from the checking account into 12-month certificates of deposit, citing a current rate near 3.5%.
Council authorized City Clerk Becky Coltrane to move funds into CDs after consulting with the accountant (motion by Council Member Hanna Smith, second by Lane Clark; passed 3-0). The council then approved the treasurer's report by voice vote.
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