Boone County treasurer reports midyear software transition, $1.8M liquidity draw and health-insurance cost pressures

Boone County Treasurer Newport told the Committee of the Whole — Finance on Feb. 13 that the county’s January finances reflected an expected seasonal drawdown and one large annual insurance payment.

Newport said the county is down “a couple million in total from a month ago, or 1.8” million, and attributed most of that decline to liquidity being used to pay a property/liability insurance premium of more than $1 million. “If you ever wanted to add some excitement to your life, I recommend what you do is you switch accounting software, payroll software, and auditors all in the same year,” Newport said, describing extra workload from a midyear software transition.

The nut of the report: county cash was lower than a month earlier but the county’s timed investments and certificates…