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Board of Trustees Meeting and Public Hearing

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  1. 12022-09-12
    Board of Trustees Meeting and Public Hearing
    meeting minutesmeeting · 2022-09-12

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## Village of Red Hook NYCLASS Investment Policy Adopted 7-14-25 By Resolution #21-2025, the Village Board of Trustees approved participating in the NYCLASS Municipal Cooperative Agreement. This policy addresses the procedures by which the Village Treasurer may invest Village funds in NYCLASS. 1. A minimum balance will be kept in our accounts as follows: - a. General Fund: $50,000 - b. Water Fund: $20,000 - c. Sewer Fund: $20,000 2. The Treasurer will be responsible for ensuring that there are always adequate funds in Village accounts. 3. A funds transfer can be initiated by any one of the following three people: - a. Village Treasurer – Marybeth DeFilippis - b. Village Mayor – Karen Smythe - c. Comptroller – Michele Zagorski 4. Before the transfer can take place, a second person must approve the transfer - a. NYCLASS has a dual approval process in which the Village will participate. - b. The three people listed in #3 are the ones authorized to approve a transfer 5. This policy will be reviewed annually by the Village Board.

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