08/24/12 Members of the Marshall County Board of Finance met this week to review the investment policy and discuss the upcoming request for proposals for the County’s cash management system for the next two years.  Board members include the three commissioners, Kevin Overmyer, Jack Roose and Greg Compton along with County Treasurer Deb VanDeMark.

Every two years the county advertises for proposals from county banking institution on the State’s Official Depository List.  The Board of Finance will meet October 1st to review, approve and advertise for the RFP’s with submissions due by November 5th.  On November 5th the proposals will accepted for consideration with final determination to be on November 19th.

The County Treasurer informed the board of recent changes in legislation allowing governments to invest the funds for a maximum of five years.  Although the board did not appear to be interested in doing so, it was recommended that they amend the current investment policy to include the new state statue.  Overmyer said, “Including this provision in the policy does not bind us in having to invest county money for that length of time.”

Reviewing the financial report for Marshall County showed a bank balance at the end of July at $1,213,564 in the First State Bank, $439,101 in Key Savings, $1,171,819 in the Indiana Trust Bank and $26,009,160 in the Lake City cash management account.