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Simpson County fiscal court approves account moves, budget transfers and bills
Summary
At its April 30 special session the Simpson County Fiscal Court authorized moving multiple county checking accounts to higher-yield intrabank accounts, approved several budget line-item transfers, and signed off on vendor bills and claims including several large payments.
The Simpson County Fiscal Court approved a series of financial housekeeping measures during its special-called meeting on April 30, 2024.
The court authorized moving the General, Jail, ARPA and CCPSF checking accounts at Franklin Bank & Trust into IntraFi (ICS) higher interest-bearing accounts offering a 4% interest rate and authorized any signatures necessary to effect those intrabank transfers (motion by Marty Chandler; second by Jeffrey Burr; Ayes–All).
The court also authorized moving the Road Fund and Opioid Settlement Fund checking accounts at German American Bank to higher interest-bearing accounts at a 3% interest rate (motion by Chandler; second by Poston; Ayes–All).
Separately, the court approved moving the LGEA Fund interest-bearing checking account at South Central Bank from a 0.2% rate to a higher interest-bearing checking account at 4.41% provided the account maintains a $500,000 balance; if the balance falls below that threshold the rate would drop to 3.45% (motion by Chandler; second by Burr; Ayes–All).
The court approved multiple budget transfers to reallocate funds across accounts for fuel, equipment, coroner expenses, printing and personnel, among others. Examples recorded in the meeting minutes include transfers such as $20,000 from jail health insurance to part-time personnel and medical contracts, $30,000 total reallocated among jail food and FICA, and smaller transfers for PVA telephone and office supplies; the transcript lists specific line items and amounts in the official minutes.
Fiscal Court approved bills and claims as presented. Notable vendor payments shown in the minutes include US Bank St Paul ($350,000 and $42,335), Scotty's Contracting ($306,764.31), Gator Made Trailers ($26,355), Fiscalsoft Corporation ($27,899), and Kellwell Food Management ($23,569.12). The court voted to approve the claims (motion by Myron Thurman; second by Scott Poston; Ayes–All).
The meeting also approved the minutes of the April 16 regular meeting and adjourned at 10:58 a.m.
