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County treasurer reports $5.57 million in investments at end of 2024; commissioners accept report
Summary
County treasurer Nancy Clubeby reported total investments of $5,570,500 across banks and CDs at Dec. 31, 2024; commissioners accepted the treasurer's report by unanimous vote.
County Treasurer Nancy Clubeby presented the Montgomery County year-end investment and bank-account report for the fourth quarter ending Dec. 31, 2024, showing total investments of $5,570,500 held in accounts and certificates of deposit across local banks; the commissioners accepted the report by unanimous vote.
Clubeby said the funds were held in a mix of bank accounts and four certificates of deposit split across two banks (Community National and People's State were named). She described the county's competitive bid process for CDs, in which she solicits bids from county banks and awards deposits to the highest bidder within the specified response period.
Commissioners asked whether interest earned on the invested funds remained with the county; Clubeby confirmed interest stays with the county and flows to the county's operating funds for use. The board moved, seconded and recorded a unanimous vote to accept the treasurer's report.
