001like to call the finance meeting to order um we are live streaming I'd like to mention that to the audience I'll preside over the meeting until we have named a president of the um committee so I'd like to take nominations for the president and secretary I'd like to do it together one if that's okay with you um of the finance all second any discussion all those in favor I'll turn it over to you madam president okay so we'll continue the finance meeting philli all right yes you'll see there the listed of our design designated depositories are German American and Jackson County Bank that's two people we do our banking with third item of the agenda is the investment report last year because we got the proceeds of the bond we invested in a bond at
002German Amer interest rate about 5.46% and that will stay there for six months which will coincide when we'll have to do our first draw for the CT project the high school so we'll have it tied up for roughly six months and if we have to if we have bills before then we'll just take care of it of our normal float until we cash that CD in the second part worth noting on there is since we switched banks last about a year ago this time we have made a considerable uh considerable interest increase because with our with our let's say our excess money from that standpoint in the tune of about $250,000 so that was a good thing that we wouldn't basically wouldn't have got had we not switched next up is our investment policy which
003is policy 6144 and at this point in time I would not recommend any changes made to that policy next up is the cancellation of outstanding checks uh we have there's a there's a uh rule law that says you cannot have checks over two years old our oldest check is only about eight months old and it's one and it's not even a significant dollar amount so we are well within our guidelines of outstanding checks and the last part of it is the financial and qualifi qualitative indicators and when you look at that you'll see things we already know is in we've got we had a slight dip in ADM from year 21 to 22 because this is all a year in a rear because that the way they compile the data we have a reduction in
004operations funds which we sort of known we knew about you we've we've sort we had to plead some of that out with basically raises and different things like that and increased fuel cost and all those different things that go into the operation fund spending there's there's also no deficit between revenue and expense which the prior year there was a deficit because of the timing of the eser money so that rebounded in this particular year so there's no deficit there and the another indicator on page three is the reduction in Ops fund balance percent which falls directly in line with the balance itself and lastly there was a increase in stimulus Revenue which was again the make up our deficit before because I believe we in 2022 we received Sr 2 three and one two and
005three funds all so we've had that makeup in there so you'll see an increase on that page three of that is there any questions about the any of the elements of the finance meeting hearing not that's all I have to report perfect hearing no discussion entertain a motion to adjourn the finance meeting I have a motion by Maryland do I have a second second second by Cheryl all those in favor 7 meeting agend minutes