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Board clarifies $500,000 reserve path and tax-collection account handling
Summary
Board members clarified that $500,000 shown in minutes moved from the general fund to a CD, then to a money market and into a new CD; the tax collector explained payment order priorities and a plan to keep some receipts in an interest-bearing account until transfers are requested.
Board members clarified the origin and accounting path of a $500,000 facility reserve. The Chair explained the money originally came out of the general fund to buy a CD, then moved to a money market and then into a new CD; the Chair asked that the path be clearly traced in the minutes so records reflect the transfers.
The tax collector (speaker 1) described the order for disbursing tax receipts: pay the fire district first, then the supervisor, then the county. The tax collector said they and Brent agreed to leave receipts in a joint tax/water/sewer interest-bearing account until the supervisor requests transfers, since the account pays modest interest ("0.65") rather than depositing immediately into a noninterest general fund account.
Board discussion produced no formal vote on these clarifications beyond recording the explanation for the minutes; staff will maintain clear accounting trails as requested.
