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Fiscal court approves quarterly financial reports, transfers and two new money-market accounts
Summary
The court acknowledged the treasurer’s quarterly statements, approved several intra-fund transfers and authorized two new money-market accounts to separately track ARPA revenue-loss funds and House Bill 1 funds.
The fiscal court acknowledged the county’s financial statements through March 31, 2025, approved several budget transfers and authorized two new money-market accounts to segregate specified revenue sources.
County Treasurer Amanda reported fund balances and quarter-end totals across general, road, parks, occupational tax, ARPA and other funds; total all funds were reported as $19,158,652.80. Amanda said ARPA funds currently remain obligated primarily to broadband projects and related reporting and legal costs.
The court approved cash transfers: $75,000 from occupational net profits tax to the jail fund; $15,000 from occupational tax to the LGEA fund; and $50,000 from occupational tax to the 911 fund. The transfers passed on roll-call votes.
The court voted to extend current bank contracts for one year (keeping current interest rates) rather than rebid immediately, and approved opening two separate money-market accounts at Independence Bank: one to isolate ARPA revenue-loss funds (about $1.6 million) and one to hold incoming House Bill 1 funds (an anticipated allocation described by staff). The judge moved and the court carried motions to open the accounts and to maintain existing bank contract rates for another year.
Officials also approved budget transfer lists and encumbrance reports presented by the treasurer and authorized staff to work with auditors on banking and account structure ahead of fiscal-year changes.
