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Putnam County adopts cash-rounding policy as comptroller flags penny shortage
Summary
In response to a state comptroller memo and shortages of pennies, the Putnam County Commission approved a countywide cash-rounding resolution that applies only to cash transactions and uses standard nickel-based rules; clerk and other officials raised implementation and accounting concerns.
Putnam County commissioners voted to adopt a countywide rounding policy to address a rising shortage of pennies, following guidance from the state comptroller’s office.
Jeff Jones explained that the policy applies only to cash transactions; credit-card, money-order and other noncash payments would not be affected. Jones described the rounding method as traditional nickel-based rounding: amounts ending in 1–2¢ would round down to the nearest nickel, 3–4¢ would round up (example: an $18.62 cash payment would be rounded to $18.60 if the adjustment is 2¢; 3¢ would round up), and similar logic applies for amounts ending in 7–8¢. The county adopted the resolution after commissioners discussed the comptroller’s memo and possible local implementation steps.
Commissioners asked for practical examples during the discussion; one commissioner noted a federal discontinuation of penny production and cited a comptroller memo recommending local policies. The county clerk expressed concern about how rounding might affect offices that handle many small cash transactions and noted state-set fees that limit how the office can absorb rounding differences. Commissioners said they had consulted county legal counsel and audit staff and that other counties were seeking copies of the resolution.
On the recorded handset vote, the clerk reported 22 yes and 1 no, with one vacancy; the chairman declared the motion passed. Commissioners instructed staff to consult with county attorneys and auditors on implementation details such as accounting for rounding differences and any exceptions.
