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Kennebec County finance report: cash balances, ARPA accounting and bank fraud warning
Summary
Treasurer and finance staff reported general fund and investment balances, detailed warrants and municipal receipts, and warned commissioners about an increase in holiday-related credit-card fraud attempts; staff will provide a breakdown of ARPA funds upon request.
Treasurer Tom Doer and county finance staff reported to the Kennebec County Commissioners on Oct. 21 that the county’s general fund and investment accounts hold several million dollars across multiple accounts, and that recent municipal receipts included large payments from several towns. The treasurer provided an overview of warrants and payroll totals and said staff will supply a detailed breakdown showing how much of the invested funds are committed ARPA dollars.
Finance staff also warned commissioners about a rise in attempted payment fraud tied to credit-card and ACH authorizations. A finance representative said the county’s bank, Kennebec Savings, notified the county of a campaign in which actors impersonated bank employees and attempted to get organizations to change passwords and user authorizations. “The bank will never call you,” the finance presenter said, urging staff and commissioners to verify any suspicious contact through official bank channels.
Commissioners asked for a follow-up that separates ARPA and other restricted funds from general county investments. The treasurer’s office agreed to provide that accounting to the commissioners after the meeting. The discussion closed with finance staff advising heightened vigilance over payment requests and noting they are monitoring credit-card transactions daily for suspicious activity.
