Treasurer reports county investments and flags judicial center financing needs

Ed Dyer, Adams County treasurer, briefed the commissioners on the county's investment position and the upcoming judicial center financing needs during the March 4 meeting.

Dyer said he currently holds several million dollars in liquid investments across county banks and Trust Indiana. He told commissioners that with architectural and down-payment expenses for the judicial center likely coming, he anticipates the board will want to keep funds liquid even if that yields slightly less interest. He said bonds and CDs are at lower yields now but could improve later; still, he recommended liquidity to meet potential near-term cash needs for project payments.

Dyer also reported on the State Treasurer's Conference and discussed state bill 1, which he said could have significant effects on counties if enacted in its original form. He described the draft legislation as not being "tax reform" and said it would shift some tax burdens later; he did not recommend any specific local action but urged commissioners to note the potential impacts as the bill proceeds through the legislative process.

On operations, Dyer said the county's abstract-of-record submission to the state has been received but not yet approved, and that tax statements are scheduled to be mailed in a timeframe that will put them in taxpayers' hands about a month before they are due. He also briefed the board on a recent insurance reimbursement the county received for a vehicle crash; the funds were deposited to the appropriate county fund.

Dyer asked for direction about how the county should hold investment funds while the judicial center's financing plan is finalized. He said he intends to keep funds liquid unless the commissioners direct otherwise.