Franklin County supervisors approve depository list and operating transfers; auditor flags $266,784 hit from tax reform

The Franklin County Board of Supervisors on July 7 adopted resolutions naming the county's official depositories and authorizing operating transfers between budgetary funds.

The Board approved Resolution 2026-51, which lists financial institutions authorized to hold county funds under Iowa Code §12C. The resolution raises the maximum deposit for First Bank Hampton from $20,000,000 to $30,000,000 and sets maximum balances of $9,000,000 for several local banks; Iowa Public Agency Investment Trust’s maximum was increased from $4,500,000 to $9,000,000. The motion passed on a roll-call vote: Ayes — Lukensmeyer, McVicker and Vanness; Nays — none.

In a separate vote the Board adopted Resolution 2026-52 authorizing operating transfers between budgetary funds. The resolution lists, among other transfers, a $193,390 transfer from the General Basic Fund to Conservation (described as a 50% general operating transfer) and a $52,826 transfer from the General Basic Fund to Veterans Affairs (also a 50% general operating transfer). The motion passed by roll call: Ayes — Lukensmeyer, McVicker and Vanness; Nays — none.

Auditor Katy A. Flint briefed the Board on the effects of recent state law changes. According to the auditor’s update, Senate File 2472 (property-tax reform) will eliminate certain state backfill credits, costing Franklin County $266,784 by the end of fiscal year 2028. The auditor presented that figure as the projected local revenue loss; the transcript does not record additional mitigation steps or a departmental plan tied to this projection.

The Board's actions closed routine fiscal business for the session; the meeting record notes that full resolutions and supporting documents are available from the Auditor’s office or on the county website. The Board is scheduled to reconvene on July 14, 2026, at 8:30 a.m.