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Cache County Council adopts first 2026 budget amendment after auditor flags bond arbitrage payment
Cache County Council · March 10, 2026
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Summary
Auditor Matt Funk told the council a $175,629 remittance to the federal government was required because of arbitrage earnings on a $5.6 million open‑space bond; the council approved Resolution 2026‑07 at the March 10 meeting.
The Cache County Council approved Resolution 2026‑07, the first amendment to the county’s 2026 budget, after the county auditor explained an arbitrage remittance related to an open‑space bond.
Auditor Matt Funk told the council that a $5.6 million open‑space bond produced investment earnings that exceeded the bond’s 2.99% offering rate, creating…
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