Board authorizes reimbursement of general fund from hospital proceeds, to solicit depository bids and moves ahead on procurement‑card policy
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Summary
The board approved a transfer of $809,530 from the hospital proceeds fund back to the general fund to reimburse expenditures made while proceeds were pending; it also authorized solicitation for the county depository and approved a procurement‑card policy (procurement card separate from travel card). Board discussed current depository yields and
The board approved several finance and administrative actions intended to align cash and operating accounts and modernize purchasing controls.
County Administrator Wayne Carpenter asked the board to approve a transfer of $809,530 from Fund 126 (hospital proceeds) to Fund 001 (general fund) to reimburse prior general fund expenditures that had been paid while hospital sale proceeds were pending. The board approved the transfer unanimously.
Carpenter also presented a plan to solicit bids for the county depository (the bank that will hold the county operating depository account). The board authorized staff to issue the solicitation and noted the county’s current depository interest rate (discussed in the meeting at roughly 3.55% on the depository account). Carpenter said state law requires rebidding the depository; board approved the solicitation.
Separately, staff presented a draft procurement‑card (P‑card) policy intended for purchases of goods and services (the policy is separate from travel cards). The policy and draft procedures were discussed as controls for subscriptions and vendors that require card payment; the board approved moving forward with the policy and asked staff to finalize operational limits and controls.
No changes to existing payroll or holiday schedules were made at the time of these decisions; staff indicated updated paperwork would be returned for the records where necessary.