Treasurer reports roughly $27 million in county bank balances; investments over‑collateralized, auditors reviewed account moves

Willacy County’s treasurer presented a redesigned monthly report showing total bank balances and investments totaling about $27,000,001 and noted that one investment pool held about $22,808,003. The treasurer also said bank collateral exceeded the required 105% threshold and reported the county’s investment advisers and collateral levels by pool.

Commissioners referenced an independent audit finding that a large account had been opened and quickly funded after paying off a detention center loan, raising FDIC coverage concerns; staff said they reviewed accounts with the county’s financial adviser to ensure funds were placed safely. "Bank balances and investments total $27,000,001.27," the treasurer reported in presenting the redesigned report.