Finance R 1123 260217

Knox County Commission Finance Committee · February 18, 2026

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Trustee report: accounts, FirstBank rate, interest earned

Presentation

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Justin Biggs, Knox County trustee, reported the new FirstBank contract rate (effective 02/01/2026) at 3.52% and said interest earned for the trustee-managed accounts (excluding the ARPA account) in the first quarter of fiscal year 2026 was $3,860,836.97. He offered to provide ARPA-specific figures separately.

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Knox County Finance Committee heard trustee and finance department reports on investments, tax collections, tax-freezes and the FY27 budget outlook; finance director warned a proposed state cap on property-tax increases could threaten bond covenants and pushed for summer workshops on the certified tax rate.

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Transcript

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