PLYMOUTH — The Marshall County Board of Finance took a look at the allocation of interest income from County investments in a meeting on Monday.
The Board of Finance, by state statute, is made up of the County Commissioners (Jesse Bohannon, Adam Faulstich, and Stan Klotz) along with the Marshall County Treasurer (Sandra Dodson). This board has the responsibility of supervising the allocation of public depositories for all public funds of the county. The county treasurer is also considered the custodian of all money belonging to the county and the investing officer of these funds, working in conjunction with the board of county commissioners to determine local public depositories.
Bohannon told the other Board members that the President of the Marshall County Council, Tim Harmon, would like the board to consider a change in the county policy regarding the county fund in which interest income is deposited. Bohannon said that Harmon would like as much of the county’s interest income as is allowed by law to be deposited in the General Fund rather than accrue in other special-purpose funds.
He also would like the excess funds left in the budget at year’s end to go back into the General Fund rather than the Rainy Day Fund.
While Klotz had no real objection to the change, he did say that he would like to have a specific recommendation proposal from the Council to let the Board of Finance know what their intentions are.
No action was taken, but plans are for another meeting, including the Council, to discuss the proposal.
