Randolph County Board of Finance adopts investment policy, reviews 2025 returns

The Randolph County Board of Finance reviewed the county's 2025 investment report and adopted a new investment policy at a meeting that opened with officers retained for the year.

Brenda Tharbrand, the county treasurer, presented the investments summary and said Trust Indiana earned $2,036,411 in interest for 2025 while the county's $2,000,000 in a First Merchants Bank money market generated about $1,400. "Trust Indiana, interest rates are going down, of course, so we didn't do quite as well as we did year before," Tharbrand said.

The board then reviewed a written investment policy that states the county will seek the highest investment return with maximum security while meeting daily cash-flow needs and complying with state statute IC 5-13. The policy restates a "prudent person" standard for the treasurer and lists allowable securities, including U.S. Treasury obligations, federal agency securities and certain municipal securities that have not defaulted within the prior 20 years. It also limits maturities longer than two years (but not more than five) to no more than 25% of the portfolio.

A motion to adopt the investment policy was made and seconded; members approved the motion by voice vote with commissioners responding "aye." The meeting record shows no roll-call vote or named tallies.

The board also approved appointments for representatives to handle town funds and accepted a slate of designated depository banks, including First Merchants Bank, First Financial Bank, First Bank of Indiana, Old National Bank, Citizens State Bank, Northwest Bank, Farmer State Bank and Trust Indiana.

The finance portion of the meeting concluded after routine motions and votes. The board did not identify any immediate policy changes or new investment managers at the session; staff were instructed to follow the newly adopted policy and statutory constraints going forward.