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Negotiate a new depository contract
Submitted by chrismyers on Sat, 02/20/2010 - 19:38
Make sure every checking account earns interest. Watch the type of bank account the district has. Ask for a monthly bank account analysis to confirm the transaction fees charged to the account even if the district maintains a compensating balance. Ricardo ISD’s bank pays interest on all accounts, and the district is earning an additional $7,000 annually through better investing practices. Smithville ISD’s bank didn’t offer a sweep account recommended by TSPR, so the district used this leverage to encourage the bank to increase interest by nearly $9,000 annually.
From 101 ways to save money.
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