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County treasurer reports strong investment income; ARPA and courthouse, McKinley projects drawing funds
Summary
The county treasurer reported robust interest earnings in July; administration staff outlined project expenses against ARPA and capital projects including courthouse and McKinley Avenue work and said ARPA balances may be exhausted within months at current spend rates.
Boone County’s finance staff reported July investment earnings and provided updates on capital project spending and ARPA usage Thursday. Kurt Newport, county treasurer, told the committee the county posted $218,000 in interest in July and that the county’s investment pool has earned more than $1.1 million in interest so far in the fiscal year. Newport said the pool’s near-term yields have been elevated, and staff are keeping cash in liquid accounts while watching when to ladder certificates of deposit. Administration staff member Becky (last name provided in packet) told the board a change in state law altered how certain…
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