CDD accepts unaudited statements; plans transfer to ICS and to present loan term sheet
The board accepted the unaudited March 31, 2026 financial statements; Mr. Adams said he will transfer $700,000 to an Insured Cash Sweep (ICS) account and will pursue information on long-term CDs; staff will present a construction-loan term sheet at the next meeting.
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Mrs. Adams presented the unaudited financial statements as of March 31, 2026. During discussion, Mr. Blumenthal said the Insured Cash Sweep account appeared beneficial based on the figures and Mr. Adams said, "He will transfer $700,000 to the ICS account," and that staff will research long-term certificates of deposit for consideration at a future meeting.
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