Wichita County auditors and treasurer report 'solid' fiscal position; $32 million moved to investment pool

County auditors and the treasurer told the Wichita County Commissioners Court on July 22 that the county’s finances are on course and that recent moves will ease depository collateral burdens.

Auditor Matt (surname not specified) and Treasurer Jones reported that, while year-to-date balances decline in the normal seasonal pattern, most funds are within budget and the general fund held roughly six months of reserves as of June 30.

Treasurer Jones said the county moved a large LPPF-related balance — described in discussion as roughly $32,000,000 — into the county investment pool (TexPool), which reduced the collateral the county’s depository bank must hold and keeps those funds earning interest. Jones also said a $250,000 certificate of deposit at Texoma Community Credit Union was cashed out for $273,000 when documentation was located.

“We're right on track,” the auditor said, summarizing the June report. The treasurer added that total interest earned through June was about $1.4 million and noted last year’s total interest was roughly $3.4 million.

The commissioners formally received the June 2025 auditors report by motion; the motion to receive carried 5–0.

Officials discussed legal reporting requirements tied to tax-rate setting under the state’s truth-in-taxation procedures and noted that recent guidance requires certain debt-funded reserve balances to be shown explicitly when setting rates. The auditor said that adjustment will reduce the debt rate this year.

Why it matters: County officials said the fiscal position gives the county capacity to respond to near-term needs and maintained that moving the LPPF balance to the investment pool reduces administrative burdens on the county’s bank while keeping funds available under the statutory framework discussed with the comptroller’s office.

Clarifying financial details mentioned during the meeting included:

- General fund reserve: about six months of operating costs as of June 30. - Interest income: approximately $1.4 million earned through June 2025; roughly $3.4 million earned in calendar year 2024. - Investment change: county moved roughly $32,000,000 of LPPF-related funds into the investment pool to avoid depository collateralization burdens (described in meeting as TexPool). - CD transaction: cashed $250,000 CD for $273,000 after locating documentation.

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