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Kaufman County treasurer reports $38.4 million in general fund at end of May; report approved
Summary
The court accepted the county treasurer's May report showing $38,388,006 in the general fund, investment yields and bank collateral figures were presented and the monthly report was approved by the court.
The Kaufman County Commissioners Court on Wednesday accepted the county treasurer's monthly financial report for May, which showed $38,388,006 in the general fund and total invested funds of $110,732,041.
Treasurer Chuck reported the county's interest income and investment yields, saying the interest earned in American National Bank was $2,618 and interest on investments was $415,642. He told the court that funds in the county's tax pool were earning 4.431% and that the average yield in Texas CLASS was 4.4083%.
“Total funds in American National Bank: $45,272,000,” Chuck said. He reported that the bank’s collateral totaled $50,038,000, collateralizing county deposits at about 111% and that approximately 71% of the county’s free cash was invested, leaving 29% in the bank.
Commissioner Phillips moved to approve the treasurer’s report; Commissioner Crowe seconded. The court voted unanimously to accept the report.
The court took no additional action on investments during the meeting.
