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Board extends district depository contract for two years with Clayborn Bank
Summary
The West Oso ISD Board approved a two-year extension of its depository contract with Clayborn Bank through Aug. 31, 2027; the extension keeps the bank relationship and a stated interest-earning rate, and district staff cited operational convenience.
The West Oso ISD Board of Trustees voted to extend the district’s depository contract with Clayborn Bank for a two-year period beginning Sept. 1, 2025, and ending Aug. 31, 2027.
Chief financial staff said Clayborn Bank has been the district depository since September 2019, the bank offers operational conveniences such as same-day payroll uploads and a stated credit-earning arrangement, and the current credit rate in the presentation was noted as 1.5 percent. Trustees asked whether a competitive bid process had been undertaken; staff said statute allows extension and that running a full solicitation for a new depository is administratively involved and can disrupt operations; the district may seek bids at the end of the extension.
The motion to adopt the extension was moved and seconded by board members during the meeting; the roll call was recorded and the motion passed, with the transcript indicating a 6–1 decision. Staff indicated that day-to-day banking operations will remain unchanged and that the Business Office will continue to monitor cash balances and short-term liquidity for payroll needs and other obligations.
