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Boone County treasurer reports $39 million in cash, flags $5 million posting error in capital projects fund
Summary
The county treasurer told the finance committee the county closed the year with just over $39 million in cash and investments, earned roughly $1.7 million in interest this year, and identified a $5,000,000 posting error between the general and capital projects funds that staff will correct.
The Boone County Committee of the Whole (Finance) heard the treasurer's report on Dec. 11, when Mr. Newport told members the county closed the year with just over $39,000,000 in cash and investments and that the investment pool returned more than $1,700,000 in interest for the year.
Newport said the county is keeping maturities liquid to meet near-term building and insurance obligations and noted December is typically an expensive month for department spending. He told…
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