Treasurer reports county cash and investment balances; CD matures as staff weigh options
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Summary
A county official told the quorum court the county has roughly $679,000 in a general fund and an investment account around $1.06 million, and said local banks have agreed to allow emergency withdrawal of CDs without penalty; officials will decide on reinvestment timing.
The quorum court heard a financial update from a county official who said the county's fund balance is about $679,000 and that an investment account holds approximately $1.06 million. The official said a certificate of deposit (CD) is coming due and that local banks have agreed, in case of emergency, to permit penalty-free withdrawal.
The official described shopping for the best interest rate and said he typically chooses the highest available rate, weighing terms of one year versus longer maturities. He said three local banks (Commercial, Texana and Farmers) have agreed to terms allowing withdrawal in an emergency without penalty and that he tries to limit withdrawals to amounts needed for bills or payroll.
The transcript contained garbled cent figures when the speaker stated exact cents; the article therefore reports rounded amounts and notes the transcript was unclear on the precise cents. No formal vote or investment decision was taken in this segment; the official said he would call other court members before acting and requested that members call him with input.
