Members of The Esplanade's Finance Committee have recently examined the HOA's reserve funds, and identified an opportunity to earn significantly higher interest rates on the assets.
The HOA's reserve fund is currently invested in a series of CD's, some of which will soon reach maturation, and, after a short window of time, will automatically reinvest at their current rate of return. Finance Committee members have identified a local bank willing to give an interest rate of several times the rate currently being earned by the funds, and have recommended to the board that this opportunity be explored.
To see the complete recommendation to the board, click HERE.
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