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Mason County transfers ARPA funds into general fund and invests $2.5 million in CDs
Summary
County treasurer reported ARPA funds were reclassified to the general fund and $2.5 million of those funds were placed in certificates of deposit at Peoples Bank of Ohio; the court approved claims, financial statements and budget transfers.
Mason County’s treasurer reported that the county was instructed by the state to transfer certain ARPA funds into the general fund because the award amount fell below the state threshold for separate treatment. The treasurer said the county invested $2.5 million of the funds in certificates of deposit at Peoples Bank of Ohio (a mix of 7-month and 12-month CDs) to earn interest; the treasurer estimated modest projected interest over the CD terms.
The court approved claims totaling $48,239.39, accepted the financial statement as of Feb. 29, 2024, and authorized budget transfers totaling $532,703.47. Commissioners discussed whether the funds must be appropriated by 2026 and were told the state expects appropriation but that the funds are now held under county accounts and invested per county policy.
The court voted by roll call to approve the treasurer’s requested actions and transfers. County staff said they will report future investment earnings and any appropriation needs to the court.
