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Buffalo County commissioners approve $500,000 CD purchase amid debate over unpaid bills and budget transparency
Summary
Commissioners moved to invest $500,000 in certificates of deposit and discussed outstanding vendor payables, a previously approved (but unpaid) payoff for county equipment, and the county’s annual financial and assessment reporting.
Buffalo County commissioners voted to place $500,000 into certificates of deposit after an extended discussion about cash flow, unpaid bills and whether to use county cash to pay down higher-interest debt.
County finance officers and commissioners told the meeting that the county had written checks totaling about $1.15 million while receipts for the year were roughly $913,000, creating a temporary imbalance the board needs to manage while FEMA and other reimbursements are pending. Commissioners debated whether to hold liquid reserves for immediate bills or invest surplus funds to earn interest; proponents cited recent higher CD rates and opponents…
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