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VNT Commission authorizes investigation of interest-bearing options for idle funds with Story County comptroller
Summary
The commission authorized a member to work with the Story County Comptroller to explore interest-bearing vehicles for the commission's operating balance, which regularly exceeds $1 million; motion passed unanimously.
The Nevada Commission for the Construction of the VNT Railway authorized a member to coordinate with the Story County Comptroller to identify and evaluate interest-bearing, low-risk options for excess funds held in the commission’s operating account. The motion passed unanimously.
Commissioners said the operating account often maintains a balance exceeding $1,000,000 with no interest earned on idle funds. Staff recommended evaluating short-term, low-risk products—money market accounts, short-term certificates of deposit (CDs), and sweep accounts—that could generate passive income while preserving…
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