The Marshall County Board of Finance met Tuesday morning in the second-floor meeting room of the County Building. Members include the three County Commissioners and the County Treasurer.
The first order of business was the reorganization of the board. The motion was made to retain the same officers, Mike Burroughs President and Kevin Overmyer Vice President with Angie Birchmeier Secretary and Stan Klotz as a member.
Members approved the 2022 Outstanding Warrants unpaid after two years. There were 6 checks not cashed totaling $347.
County Treasurer Angie Birchmeier presented the monthly interest payments. In 2021 the county earned $357,029.59 in interest. This is the lowest amount in the last 5 years.
2020 – $1,235,911.44
2019 – $1,192,440.95
2018 – $ 486,435.74
2017 – $ 402,162.26
2016 – $ 359,886.55
The County Board of Finance also approved the Investment Policy which follows Indiana Code. It restricts the types and maturity of investments, as well as the type of investment activity undertaken by the County Treasurer.
There was a discussion of moving to the ACH. ACH transfers are electronic, bank-to-bank money transfers processed through the Automated Clearing House Network. Direct payments involve money going out of an account, including bill payments. ACH transfers are convenient, quick, and often free.
The County Treasurer said the county will need to advertise for their next 2-year Cash Management Contract that will be for 2023 and 2024. Plans are to advertise on September 14th and 21st. Accept the Requests for Proposal at the October 3rd meeting and make their final decision at the October 17th meeting. The board of finance agreed with her recommendations.