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
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----- 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.

Town of Readsboro