Floyd County Courthouse (Alex Driggars/Floyd County Record)
FLOYDADA – “Overall, I’m happy with the financial status of the county.”
Those were the words of Floyd County Judge Marty Lucke as he laid out the county’s current financials during last week’s commissioners court hearing.
Lucke updated the commissioners on the county’s investments, and recommended they make a change to one that has been underperforming since the loss of a specific investment banker. In a handout provided to commissioners and to the public, Lucke showed that the county had lost roughly $1,700 in fees to a pair of Certificates of Deposit and one Money Market account with Financial Northwestern Securities, Inc. He said despite making some overall interest, the money could be better served by being moved to First National Bank of Floydada or the First National Bank of Wichita Falls, where the county’s other investments are currently held.
Commissioners agreed with Lucke’s assessment. “We’re going to make a change,” said commissioner Nathan Johnson before a 4-0 vote in favor of the move.
The handout estimates current investments valued at $870,000 would carry the county free and clear for just under two months of operating costs. And that doesn’t even take into consideration the county’s overall funds that are held at First National Floydada, currently standing at more than $6 Million. That amount is $1.3 Million more than what the county currently has budgeted for the fiscal year. “We’ve got a strong little bank,” said Lucke.
>>CLICK HERE to see Floyd County Investment Report<<
