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River Ridge to move $700,000 into Insured Cash Sweep; staff to explore CDs
Summary
Board accepted unaudited financial statements as of March 31, 2026. Kurt Blumenthal recommended using an Insured Cash Sweep (ICS) account; staff said $700,000 will be transferred to ICS and long-term certificates of deposit will be investigated for investment options.
Cleo Adams presented the unaudited financial statements as of March 31, 2026. Supervisor Kurt Blumenthal said the Insured Cash Sweep (ICS) account provides benefits, and District staff agreed: Mr. Adams said he will transfer $700,000 to the ICS account and will research long-term certificates of deposit for possible future placement.
The Unaudited Financial Statements were included for informational purposes; staff will return with more detailed options at the next meeting when the FY2027 proposed budget is presented.
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