Last month's dilemma:
Banking on the Hometown Choice?Scenario:
board of education is about to award a contract for the district’s
banking services for the coming year. Two proposals are submitted — one
from a local bank, the other from a bank in a nearby community. The
local bank has had the district’s business for years and performed well.
The bank in the neighboring community offers investment services not
available locally. That bank also provides a better interest rate on
day-to-day investments. At the board meeting, the local banker urges
keeping the contract with the bank that employs constituents and
taxpayers. The board president asks the superintendent for a
recommendation.Read our panelists' responses here.