Finance committee recommends Lone Star National Bank for district banking services

A finance committee meeting held by Harlandale Independent School District (HISD) on April 17, 2025, focused on key financial decisions impacting the district's banking and investment strategies. The committee reviewed proposals from various banking institutions and recommended awarding a contract for banking depository services to Lone Star National Bank. This contract will initially last for two years, with the possibility of a three-year renewal, contingent upon mutual agreement between the district and the bank.

Lone Star National Bank, located just outside the district's boundaries on South Samora, was chosen after careful evaluation to ensure it meets the district's financial needs. Committee members expressed satisfaction with the selection process, confirming that the bank is well-positioned to provide the necessary services.

In addition to banking services, the board discussed the annual review of the district's investment policies. Staff presented a written instrument confirming that the board has reviewed its investment strategies, which remain unchanged from the previous year. This annual renewal is a requirement under board policy CDA legal.

The meeting also included a review of the list of qualified brokers authorized to engage in investment transactions with the district. The board is required to annually adopt this list to ensure compliance with government regulations. The recommended brokers and investment pools have met the necessary criteria, including registration with the Texas State Securities Board and adherence to the district's investment policy.

Overall, the meeting underscored the district's commitment to maintaining sound financial practices and ensuring that its banking and investment strategies align with its operational needs. The board's next steps will involve formal approval of the recommended banking services and investment brokers.