The Marshall County Board of Finance is made up of the three County Commissioners, Stan Klotz, Jesse Bohannon, and Adam Faulstich, the County Treasurer Wendy Tapia, and the County Auditor Angie Birchmeier. The board met on Monday morning, following the commissioners’ meeting, to discuss the interest earned by various accounts the county holds. The idea of moving some of the county’s earned interest into the General Fund will allow the County Council more flexibility to use the funds.
The Commissioners have reviewed the various funds that earn interest and determined that the Rainy-Day Fund, Cum Cap, Cum Bridge, and LIT Special Purpose were the county funds that they would be able to statutorily transfer the earned interest from and place it in the General Fund.
The annual interest earned from the fund varies but was estimated to be between $300,000 and $400,000.
The County Auditor said this change would have no impact on the budget.
In less than 10 minutes, the Board of Finance decided to support County Council President Tim Harmon’s request to have the additional earned interest transferred to the General Fund for their use.
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