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Auditor presents simplified revenue-expense flowchart as committee reviews county investment practices
Summary
The county auditor presented a condensed flowchart summarizing the Missouri Valley Complex revenues and expenses and described ongoing work to reduce the number of banking relationships and favor in‑state banking where allowed by policy.
The auditor presented a one‑page flowchart intended to simplify the Missouri Valley Complex’s revenue and expense reporting and said the document condenses more than 30 pages of prior detail into a high‑level schematic.
The auditor said the flowchart groups revenue items on the left and expenses on the right and represents a “thousand‑foot view” intended to help committee members understand cash flows without review of line‑by‑line transaction detail. The auditor credited an assistant, Thomas, for compiling the material and said the flowchart adapts elements of state flowcharts where appropriate.
On county banking and investments the auditor described goals to reduce the number of banks holding county funds. “When I became auditor, we were probably in 11 or 12 different banks. I saw that and thought this is completely unmanageable,” the auditor said. The auditor said the county has reduced the number of banks and is “currently down to 7” and expressed a personal preference to hold county funds in North Dakota banks where allowed by law and policy.
Committee members raised questions about why funds had been spread across many accounts historically. The auditor said the county’s investment policy calls for diversification across banks and investment types and that bank selection practices differ across counties. The auditor also cautioned the committee about the Bank of North Dakota: “We have to be careful with how we use them because they are not allowed to compete with North Dakota banks,” the auditor said, noting limits on what municipal uses the Bank of North Dakota can perform and why other counties sometimes avoid placing operating accounts there.
Committee members thanked the auditor for the condensed flowchart and requested time to digest the document. The auditor asked to reserve the right to follow up with additional conversations once committee members had reviewed the materials.
The committee did not take formal action on the audit flowchart during the meeting but accepted the document for review.
