Agenda Item
Meeting Date: 7/10/2019 - 7:00 PM
Category: Consent Agenda 2
Type: Action
Subject: Approval of the Resolution Designating Depositories
Vision 2022:
Financial & Facilities Management
Continue to ensure a balanced budget that builds and maintains a fund balance that meets Board policy.
Policy: 4.10 - Fiscal and Business Management
Background: Each year the Chief Financial Officer, William R. Farley, presents to the Board of Education a recommendation to approve the financial institutions the District uses to hold funds.
File Attachment:
Resolution Designating Depository 071019.pdf
Summary: The Board of Education approved this resolution on May 8, 2019, however MB Financial Bank, where several of the District's cash accounts are held, was acquired by Fifth Third Bank. The attached resolution has been updated to reflect this change. The resolution approved in May did include Fifth Third Securities and its custodians as the District has had an investment account with Fifth Third Securities in the past.
Recommendation: It is recommended that the resolution designating depositories by approved as presented.
Recommended By:
Signed By:
Kimberly Funkhouser - Treasurer
Signed By:
Bill Farley - Assist. Superintendent
Signed By:
Jeff Schuler - Superintendent
Vote Results:

Original Motion
Member Susan Booton Moved, Member Ginna Ericksen seconded to approve the Original motion 'It is recommended that the resolution designating depositories by approved as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 5 Nay: 0 Abstain: 1.
The motion Carried 5 - 0
Brad Paulsen     Yes
Jim Mathieson     Abstain
Chris Crabtree     Yes
Ginna Ericksen     Yes
Susan Booton     Yes
Dave Long     Yes