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Vernon County Finance Committee approves $975,724.40 in monthly vouchers; treasurer reports $24.8 million cash balance
Summary
The Finance Committee approved $975,724.40 in April vouchers and accepted Treasurer Karen Delap’s April report showing a $24,826,903.40 cash balance. The committee discussed moving maturing CDs into the Local Government Investment Pool and investment of landfill long-term care funds.
The Vernon County Finance Committee on May 18 approved $975,724.40 in monthly vouchers and accepted the treasurer’s April financial report. Kelli Mitchell moved to approve the voucher listing; Mary Meehan-Strub seconded and the motion passed 4-0-0 with one member absent.
Karen Delap, Vernon County Treasurer, reported the county’s cash balance as of the end of April was $24,826,903.40 and said revenue receipts for the month were $2,308,209.42. She reported payments made totaled $5,476,115.55, February sales tax receipts were $179,179.40, outstanding 2022 real estate taxes totaled $173,486.39, and delinquent real estate taxes were $689,893.82.
Committee members discussed the county’s investment strategy. Delap and staff discussed moving maturing certificates of deposit into the Local Government Investment Pool (LGIP) to capture higher interest rates and considered options for investing funds held for landfill long-term care and closure. "We are looking at ways to improve returns while maintaining liquidity for planned obligations," Delap said.
The treasurer’s report was accepted by motion of Kay Stanek, seconded by Mary Meehan-Strub; the motion passed 4-0-0 with one absent. The committee also approved the April 20 minutes earlier in the meeting.
The committee did not take additional action on specific investment transfers at the meeting; staff said they would provide more detail in future financial reports and related agenda items.
