Mt. Vernon Board of Finance Meeting

Mr. May made a motion to approve Resolution 2022-01 Authorizing the entire Board of Trustees to serve as the Board of Finance for the calendar year 2022 and that officers serve in the same capacities on both boards.  Mrs. Walls seconded, and the motion carried 5-0.

Mr. Elkins presented a statement of interest earnings for the period of January 1, 2021 to December 31, 2021 for a total of $42,573.96 in interest and credit card rewards which were deposited into the corporation's Rainy Day Fund when applicable.  

Mr. Edwards made a motion to approve Resolution 2022-02 which authorizes the Chief Financial Officer or his/her designee to make investments having a stated final maturity that is more than two (2) years but not more than five (5) years after the date of purchase and that the total of such investments outstanding shall not exceed 25% of the total portfolio of funds invested, including balances in transaction accounts, and all such investments will be made in accordance with Board Policy #6144-Investment Income, and that this resolution will expire on January 31, 2023. Mrs. Walls seconded, and the motion carried 5-0.

Mr. Elkins presented the DUAB (Distressed Units Appeal Board) Report, which is the School Corporation's Fiscal Indicators.