Printer Friendly Version

Village Vision News

Village Board approves closing DCEO account

Thursday, February 26, 2015

At the Feb. 17 board meeting, Item No. 5 on the Consent Agenda portion of the evening’s agenda called for approval of closing the Illinois Department of Commerce and Economic Opportunity Grant bank account.

Village Treasurer Rhonda Stewart informed trustees in a memo that back on Feb. 3, 2014, staff had asked for the board’s approval to open a money market account with Hickory Point Bank. Upon the approval of the board, the account was set up on March 13, 2014 with the first installment of the DCEO Grant Fund. All remaining installments also were deposited in the same account once they were received.

The DCEO Grant Funds totaled $200,000, while bank interest came to $197.66 making for a balance of $200,197.66 as of Jan. 31, 2015. Village staff requested approval to close the DCEO Grant Fund Bank Account in order to close out the grant application.

The fund’s balance would then be deposited into the General Fund to cover expenses for the window and carpet renovation project at Forsyth Public Library.

Trustees approved the request by approving all five items on the Consent Agenda for Feb. 17, 2015. 

^ Back to Top ^

Site by HomeSight, LLC