County reports $181M in cash and investments; ACC training center delayed by lack of bids

The Alamance County Manager presented the June 2024 investment report and answered commissioners' questions about cash balances, interest earned and investment terms.

Finance staff summarized the figures: the report lists about $6,225,000 in interest earned over six months and total cash and investments of approximately $181,000,000 across all county funds. Finance staff noted about $21,500,000 was held in bank cash balances while the remainder was invested in commercial paper and pooled instruments; the county's investment policy limits most purchases to no more than three years.

Commissioners asked for clarification on totals and term lengths. When one commissioner referenced the board's adopted budget as "like, $2.24," finance staff and the county manager indicated that the transcript did not specify units in that phrase and explained that the $181 million figure represents combined balances across funds, not just general-fund cash.

Commissioner Carter reported a separate operational issue for Alamance Community College: the college has been unable to secure contractors to perform a small but critical connection for water and sewer to the Public Safety Training Center. "We hadn't gotten been able to get a bid on connecting the water and sewer which is critical if you're gonna have fire training and have a facility," Carter said. County and college staff are exploring whether the general contractor can add the work as a contract adjustment to keep the project moving.

No new appropriations or formal budget changes were proposed at the meeting; commissioners requested follow-up information on investment composition and the ACC connection issue.