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County Officials Discuss Short-Term Line of Credit and Adjusting Operating Balance to Smooth Cash Flow
Summary
Treasurer Brad told the council he is exploring revolving lines of credit with local banks to cover short-term operating gaps; commissioners discussed lowering the county's operating balance and shifting liability premium timing to better match receipts.
The county treasurer, Brad, briefed the council on bank conversations about a short-term revolving line of credit to cover midyear cash-flow gaps. He said two local banks — First Merchants and Star Bank — were contacted, and initial terms discussed included a setup fee, interest only when drawn, and rough rate estimates in the mid-single digits (he cited about 6%). Brad said the bank relationship and the county’s deposit balances could affect fees and rates, and that he would request formal offers and confirm multi-year availability to avoid annual setups.
Commissioners and…
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