Casey Council Approves Over $2.45 Million in Bills, Renews $1.6 Million in CDs

Casey City Council Meeting | November 03, 2025

Article Summary
The Casey City Council approved the payment of over $2.45 million in bills for October, a figure that includes a significant $1.5 million transfer between city bank accounts. The council also approved the October Treasurer’s Collection Report and was informed of the successful renewal of 11 Certificates of Deposit (CDs) totaling approximately $1.6 million at a favorable interest rate.

City of Casey Financials Key Points:

• October bill payments totaling $2,452,805.45 were approved.

• The total included a $1.5 million internal transfer of funds to close out old bank accounts.

• The council approved the Treasurer’s Collection Report of $557,726.54 for October.

• Eleven city CDs, totaling around $1.6 million, were renewed for another year at a 4.25% interest rate.

CASEY, Il. – The Casey City Council conducted significant financial business during its November 3 meeting, approving over $2.45 million in expenditures and receiving positive news on city investments.

The council unanimously approved the payment of bills for October 2025, totaling $2,452,805.45. City Clerk Jeremy Mumford clarified that the large sum was not entirely due to expenses.

“There was $1.5 million that was just moved from one bank to another to close some accounts out,” Mumford explained to the council. “So, we didn’t really have that much expense. It was just transfer funds, but it’s got to be recorded that way.”

Additionally, the council approved the October Treasurer’s Collection Report, presented by Treasurer Gail Lorton, which totaled $557,726.54. Mayor Mike Nichols noted a discrepancy between the report and the agenda, stating the agenda was incorrect and the treasurer’s report was accurate.

Mayor Nichols also updated the council on city investments, reporting that 11 Certificates of Deposit had recently matured. “We got those renewed for another year at 4.25,” Nichols said, confirming the total amount was approximately $1.6 million.

The interest earned from the CDs was deposited back into their respective funds, such as the electric and water funds. “They’re doing what they’re supposed to do, guys,” Nichols said, expressing satisfaction with the rate secured for the next year.