Agenda Item
Meeting Date: 5/13/2020 - 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.
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 051320.pdf
Summary: The District currently conducts business with the following institutions: Citibank, Fifth Third Securities and its custodian, National Financial Services, JP Morgan Chase Bank, MB Financial Bank, PMA Financial Network, Inc., Illinois School District Liquid Asset Fund at Harris Bank, PFM Asset Management, LLC, Illinois Funds, Amalgamated Bank of Chicago, ArbiterSports and Wheaton Bank and Trust.
Funding: None.
Board Policy
Recommendation: It is recommended that the resolution designating depositories be 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 Chris Crabtree Moved, Member Rob Hanlon seconded to approve the Original motion 'It is recommended that the resolution designating depositories be approved as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 6 Nay: 0 Abstain: 1.
The motion Carried 6 - 0
Brad Paulsen     Yes
Jim Mathieson     Abstain
Chris Crabtree     Yes
Rob Hanlon     Yes
Ginna Ericksen     Yes
Susan Booton     Yes
Dave Long     Yes