Review Agenda Item
Meeting Date: 5/11/2022 - 7:00 PM
Category: Consent Agenda Items
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:
Background Each year, the Chief Financial Officer, Dr. Brian K. O'Keeffe, presents to the Board of Education a recommendation to approve the financial institutions the District uses to hold funds.
File Attachment:
Resolution Designating Depository 05112022.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, PMA Financial Network, Inc., Illinois School District Liquid Asset Fund (ISDLAF+) at Harris Bank, PFM Asset Management, LLC, Illinois Funds, ArbiterSports and Wheaton Bank and Trust.

There are no changes in the institutions that are recommended for the 2022-23 fiscal year compared to the 2021-22 fiscal year.
Funding: None
Board Policy
Recommendation: It is recommended that the resolution designating depositories be approved by the Board of Education as presented.
Approvals:
Recommended By:
Signed By:
Brian O'Keeffe - Asst Superintendent Business Services
Signed By:
Jeff Schuler - Superintendent
Vote Results:

Original Motion
Member Dave Long Moved, Member Rob Hanlon seconded to approve the Original motion 'It is recommended that the resolution designating depositories be approved by the Board of Education as presented.'. Upon a Roll-Call Vote being taken, the vote was: Aye: 7 Nay: 0.
The motion Carried 7 - 0
   
Brad Paulsen     Yes
Chris Crabtree     Yes
Rob Hanlon     Yes
Susan Booton     Yes
Dave Long     Yes
Mary Yeboah     Yes
Angela Blatner     Yes