What: the IDB's investment of reserves and revisions to its procurement policy.
Where it stands: at the 2026-09-08 meeting the IDB approved, unanimously per the minutes, moving $2 million from its money market account into a one-year CD at TNBank earning 4.25 percent, and Revision 1 of its Procurement Policy.
Next: none scheduled.
Details
The Finance and Audit Committee met 2026-08-31. The policy revision increases purchasing authority and raises the competitive bidding limit from $10,000 to $25,000; it also adds performance bond and labor and materials bond requirements for awarded contracts.
The 2026-10-05 agenda listed payment of a $4,500 invoice to the board's outside law firm for the 2026 PILOT Policy revision (see IDB Payment in Lieu of Tax Agreements).