County to consider $400,000 transfer into surplus investment; item placed on appropriation agenda

Polk County officials agreed to place a transfer request on a future appropriation agenda to move $400,000 into the county’s surplus investment account. Justice Ivy raised the matter, noting the county had not made regular surplus investments recently and that the surplus-investment balance was about $904,000 (as stated in the meeting). He said he would like to move roughly $400,000 into the surplus investment and made a motion to that effect; the board voted to add the transfer request to the appropriation agenda for formal consideration. Board members discussed that the surplus investment is available and useful as a reserve and that transfers are typically scheduled; the motion to put the transfer on the agenda carried and will be considered as an appropriation/transfer item at the next meeting. Why it matters: moving funds into surplus investment affects county liquidity and the availability of reserves for cash-flow management or future spending. Discussion and next steps: motion to transfer $400,000 was moved and seconded; the board approved placing the transfer on the appropriation agenda for formal action at a later meeting. No final transfer or appropriation was executed at this meeting. Ending: The meeting then moved to adjournment and subsequent workshop items.