2016-01-19 / Front Page

Cloverdale School Board Holds First Finance Committee Meeting Of 2016

Staff Report

The Cloverdale School Board held its first Finance Committee meeting of 2016 on January 11th. Duane Huge was elected chairman of the committee with Vivian Whitaker named as secretary.

After the organization of the committee, the floor was turned over to Cloverdale Community School Corporation (CCSC) Superintendent Greg Linton who provided an update on the corporation’s investments.

CCSC currently holds two short-term investments in two different banking institutions: Teachers Credit Union in Greencastle and Our Community Bank (OCB) in Cloverdale.

According to Linton, the investments, along with the daily operating funds including grant monies, to the tune of $7.1 million, earned a combined $66,837.55 in 2015.

The corporation currently has $5 million invested short-term with $4 million in Teachers Credit Union with an interest rate of .49 percent, and $1 million with Our Community Bank with an interest rate of .2 percent, with the daily operating funds and grant monies held at First National Bank in Cloverdale.

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