TCSC Board of Finance

Administration Office, 1051 S Main St, Tipton, IN 46072
Tuesday, January 8, 2019 - 6:40pm - 6:55pm

    1. Call to Order and Welcome
    Rick Powell, Board President

    Tonight’s meeting is in two parts.  This second part is a meeting of the Board of Finance that we are required to hold annually in January.  We have three functions: 1) to elect a president and secretary, 2) to name a depository for corporation funds, and 3) to receive and review the investment report.

    2. Election of Officiers
    Rick Powell, Board President

    President -  Rick Powell

    Secretary - April Overdorf

     

    3. Designation of Depositories
    Kevin Emsweller, Superintendent

    During 2018 TCSC switched its depositories from BMO Harris Bank to First Farmers Bank and Trust as a depository for Corporation funds.  We currently have checking, eFunds (textbook and school lunch), sweep account (savings). 

    It is recommended that the Board approve First Farmers Bank and Trust as the depository for corporation funds.

    4. Review of Investments
    Kevin Emsweller, Superintendent

    The investment report is made available to Board Members in the monthly Financial Report. This month’s report for December also is the report for the end of the year.  The investment earnings for 2018 was $130,567.09 compared to $13,020.45 (BMO) for 2017. Tipton Community School Corporation maintains a Repurchase Agreement Account (charge card) through BMO Harris Bank.  

    It is recommended that the Board accepts the report as presented.

    5. Adjournment
    Rick Powell, Board President
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