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Treasurer reports $1,215,815.62 moved from UBS back to Guaranty Bank; $206,789.23 reported in interest
Summary
The Madison Parish treasurer reported a transfer of $1,215,815.62 from UBS Financial Services back to Guaranty Bank and said the accounts earned $206,789.23 in interest; jurors were told Guaranty is local and offers comparable rates.
The Treasurer informed the Madison Parish Police Jury that $1,215,815.62 was withdrawn from UBS Financial Services, Inc. and transferred back to Guaranty Bank, the depository where the funds originated. According to the Treasurer, the accounts earned $206,789.23 in interest.
The Treasurer told jurors the parish favored keeping funds locally and that Guaranty offered comparable rates to the previous arrangement. No vote was required on the report; jurors recorded the information as part of routine financial business.
