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Treasurer alerts board to bank sweep error and upcoming CD deadlines tied to landfill closure funds
Summary
Treasurer told commissioners the county's treasurer account briefly overdrafted by $230,000 due to a bank-sweep setup error (fees were waived) and reminded the board that CDs for landfill closure/post-closure funds are due Jan. 21; figures for closure and post-closure were cited.
Daniels County's treasurer updated the board that certificates of deposit tied to solid-waste closure funding come due Jan. 21 and that the county is monitoring bank rates to optimize placement. The treasurer reported a setup error in the bank sweep that overdrafted the treasurer account by $230,000 last week; the bank reversed fees and staff are working with the bank to resolve the sweep configuration.
The treasurer provided numbers for closure liabilities, citing closure at roughly $104,831 and post-closure at about $305,000 as figures that will drive how funds are held and invested for future inspections and monitoring. Board members discussed whether to move funds to another institution or to leave them in the current account until landfill closure work advances.
