Treasurer reports $1.4 billion reconciliation target, moves toward new banking services and separation‑of‑duties staffing

Coconino County Treasurer Sarah Benatar updated supervisors on the treasurer’s role, balances under management and planned operational changes during budget hearings May 15, highlighting a bank change with enhanced fraud protections and a staff realignment to meet separation‑of‑duties expectations.

Nut graf: The treasurer’s office acts as the county’s bank and investment manager for the county and for other taxing jurisdictions. Benatar said the office reconciled about $1.2 billion already in the fiscal year and expects up to $1.4 billion for the full year; she outlined a planned bank/vendor transition to implement lockbox processing, positive pay and additional anti‑fraud features and asked the board to consider a recurring FTE to meet separation‑of‑duties requirements.

Portfolio and deposits Benatar reported roughly $465 million on deposit and about $400 million in investments managed by the…