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Groton has a sweep account with Merchants. We do not directly make any deposits to it. It is attached to our General Fund and if the General Fund balance goes over $50,000 the overage is automatically swept into the sweep account. If the balance goes below $50,000 in the General Fund then money is swept back in (if there is any in the sweep). FEMA funds are deposited into our General Fund. Roberta Dana Groton Town Treasurer & Collector of Current Taxes 1476 Scott Hwy Groton, VT 05046 802-584-3131 [log in to unmask] ----- Original Message ----- From: "Amber Holland" <[log in to unmask]> To: <[log in to unmask]> Sent: Wednesday, June 20, 2012 7:51 PM Subject: Merchants Sweep Account Good Evening Everyone, Just a quick question....Do any of you have a Merchants Bank Sweep Account and do you put your FEMA monies in it? OUr Town Admin is concerened about the legalities of doing that. Thanks Amber Town of Readsboro