Barton County’s funds are safe and secure in a host of Barton County banks, County Treasurer Jim Jordan told the County Commission Monday morning.

As a start-of-the-year housekeeping item, commissioners approved Monday the designated official depositories for county funds. These included: American State Bank of Great Bend; Bank of the West of Great Bend; Central National Bank of Great Bend (new this year); Community Bank and Peoples Bank and Trust of Great Bend and Ellinwood; Farmers Bank and Trust in Albert and Great Bend; First Kansas Bank of Claflin, Great Bend and Hoisington; Landmark National Bank of Great Bend and Hoisington; Plains State Bank of Great Bend (new this year); Sunflower Bank of Ellinwood and Great Bend; Wilson State Bank of Hoisington; and the Kansas Municipal Investment Pool (a voluntary investment alternative for municipalities in the state governed by the State of Kansas Pooled Money Investment Board).

Jordan was asked about the KMIP. “That keeps the local banks honest in Great Bend,” he said. 

The pool has a minimum set interest rate that it abides by. Usually, most banks are following these rates, he said.

Jordan also said that just because a bank is an approved depository, it doesn’t mean the county has funds saved there. How the money is divvied up is “fluid,” and funds are transferred from bank to bank to find the better interest rates. 

To be considered, institutions must meet the 100% pledged securities requirement for all county funds, Jordan said. In addition, county resolutions require that all depositories must provide to the county treasurer and the financial officer proof of security for these funds whenever such information is requested.