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Commission allows auditor to move $10 million to First International money market account
Summary
The board authorized the county auditor to transfer $10,000,000 from Riviera Bank to First International Bank's money market account to seek a higher interest rate while preserving liquidity.
The Dunn County Board of Commissioners authorized the county auditor to transfer $10,000,000 from funds currently held at Rivera Bank into a First International Bank money market account.
The auditor explained the money market would pay a higher interest rate (quoted as 3.75%) and allow withdrawals without penalties, unlike a certificate of deposit. Commissioner Clayman moved to permit the transfer; Commissioner Olsen seconded. The motion passed on a voice vote; commissioners recorded affirmative votes.
Why it matters: moving a portion of county cash into a higher‑yield, liquid account aims to improve interest income while retaining access to funds for operational needs.
Ending: The auditor will execute the transfer and report updated balances at future meetings.
