Kaufman County treasurer reports strong interest income; commissioners approve transfers and nearly $3 million in payouts

Kaufman County’s treasurer presented monthly and quarterly investment summaries Jan. 21 and the commissioners approved routine transfers and county payments totaling roughly $2.95 million.

The treasurer told the court the county ended December with about $37,859,000 in the general fund and reported investments of roughly $8,028,000 in TexPool and $6,300,000 in Texas Class, with average yields cited at about 4.6947 percent and 4.7464 percent respectively. For the quarter, the treasurer reported total interest earned of about $970,071 and calendar-year interest of approximately $5,455,034; the treasurer also said total invested in pools at the end of the year was about $71,608,849.

After the treasurer’s reports, the court approved several line-item budget transfers and cleanup items that had been provided to commissioners in advance. The court then approved accounts payable and payroll disbursements as presented: $920,836.75 in accounts payable and $2,026,220.20 in payroll, for a total payout of $2,947,056.95. The auditor presented the payment requests and commissioners approved the payments on motion (mover: Commissioner Phillips; second: Commissioner Lane) and voice vote.

During the quarterly investment report the treasurer discussed interest-rate expectations, saying the Federal Reserve may cut rates possibly twice during the year depending on economic conditions, with potential rate declines by year-end cited in the presentation. Commissioners did not take additional action beyond approving the transfers and payments.

Vote record: motions to accept the monthly and quarterly reports, approve transfers, and authorize payment of listed accounts and payroll all passed by voice vote.