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Roberts decides to stay with current bank for investments

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New Richmond,Wisconsin 54017
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Roberts decides to stay with current bank for investments
New Richmond Wisconsin 127 South Knowles Avenue 54017

The issue was finally put to rest.

After several meetings with four different financial institutions, the Village of Roberts voted to stay with Citizen's Bank.


It all began in November when Doreen Kruschke, village clerk, asked the board for permission to hire a financial advisor to manage the Village's $1 million rotating balance in its general fund. The account is used to pay bills, wages, etc., but usually stays around the $1 million mark.

The board asked that several institutions be contacted to determine which would be the best fit. Associated Bank - base contact in Hudson, Bremer Bank - base contact in New Richmond, Citizen's Bank in Roberts, and BBE Community Investment Partners from Brookfield, were asked to attend a special Jan. 5 meeting to make their investment presentations.

By the regular monthly meeting on Jan. 12, the board members decided they still had questions and wanted to ask the institutions back to the Feb. 9 meeting to address them.

Associated Bank, Bremer Bank and Citizen's Bank attended the Feb. 9 meeting and answered questions from the board. After each presentation, the members discussed which one to choose.

"I like the idea of Citizen's Bank being local," Scott Gerhardt, board member, said. "I think we should stick with Citizen's."

The board approved.

In other news:

• Police officer Brian Edwards asked the board to consider purchasing the Visions Mobile software program. It would allow the officers to check on non-emergency items with dispatch without tying up valuable radio channels. The board asked him to get hard figures and return next month.

• John Bond, public works director, said his office received a letter from the Wisconsin Department of Transportation saying that a 100 percent stimulus package may be available. However, the March deadline would be tight to meet. He said he will get more information as to the guidelines.

• Bond told the board that General Electric offered to make recommendations at no charge for ballfield lights if the village supplied them with a diagram of the field. The village could then use the information to send the project out for bids. Bond said they hoped to have the new lights installed by Good Neighbor Days in June.

• The board discussed the validity of building a $30,000 shelter to cover the village's supply of 5 percent salt sand for roads. Bond said eventually the government would require it to be sheltered and it is figured into the budget now. However, Gerhardt said the operators could just go to the county pit and haul sand for $16/yard, or from Hammond at $22/yard, and not keep a supply of sand in the village.

• The board approved the agreement between the Town of Warren and the Village of Roberts for a new fire truck.

• The board approved the Library Board's submission of the Community Development Block Grant for the new library.