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Commission asks for monthly account statements after investment questions
Summary
Commissioners questioned a $450,000 interest-bearing money-market account at 'West Banko' and requested routine monthly statements be attached to financial reports to confirm current interest and balances.
Finance staff reported a beginning balance of $648,767.98, receipts of $29,387.05 and expenditures of $8,416.51, leaving a cash balance of $669,738.52. During review, members probed details of a $450,000 interest-bearing investment and its yield. "Beginning balance, $648,767.98," the finance presenter read aloud as the board reviewed line items.
Board members asked where the investment was held and what interest rate it was earning. One commissioner suggested attaching monthly account statements to future reports so members can verify balances. The board asked staff to request monthly statements from the county or bank and to report the precise interest earned at the next meeting.
