Palo Alto County Treasurer Mary Hilfiker shared her semi-annual report with the Palo Alto County Board of Supervisors during their July 10 meeting.
"This semi-annual report covers the time-frame from January 1, 2012 to June 30, 2012," explained Hilfiker. "To make sure that everything is in balance, you will be looking at the total cash on hand, in banks, and there is a report, also, that shows everything that has been accredited to."
She added that the balance on hand as of June 30, 2012 was $12,622,168.09.
"The county is in balance," stated Hilfiker.
She referred the Supervisors to the settlement sheet that describes in detail "where every dime of the money is at." Listed accounts include cds and locations, liquid accounts, operating account, and savings account (including tax collection dollars).
"Six months ago, the total cash on hand was $10,204,313.51. Your bottom line now is $9,023,484.24," said Hilfiker. "So, yes, we are down a little over $1 million from where we were six months ago."
Hilfiker continued, "We are down because we had to redeem some of the investments on the road bond funds and transfer them into an operating or liquid account so that they were there for Joel's [Fantz, County Engineer] disposal to pay off the warrants for the road bond fund. If we hadn't had to do that, we'd be pretty much status quo."
"So what is the total for the road bond funds?" asked Supervisor Ed Noonan.
Hilfiker indicated to the settlement sheet that she supplied and said, "For road bond issue number two, there is still one investment and that is at $584,247. That used to be over a million dollars. I took $500,000 out of there and transferred it into a liquid account."
With no further discussion, the board approved the Treasurer's Semi-Annual Report.
"I just want to thank Mary for making us a lot of interest," said Noonan.
Keith Wirtz, Chairman of the Board, was in agreement, "Good job, Mary."