| Item Title: | Auditors - Frost Treasury Services Agreement |
| Submitted By: | Edward A. Dion, CPA, County Auditor, County Auditor's Office (915) 546-2040 |
| Subject: | Approve and authorize the County Judge to sign the Authorization to Obtain Treasury Management Services Agreement with Frost Bank, to allow for the flow of funds from our depository bank to Frost Bank for the purchase of securities. (Contract No. 2021-0112) |
| Background: | This Treasury Services Agreement will open the cash account to allow for the flow of funds from our depository bank to Frost Bank for the purchase of securities. This account will require the County to maintain a minimum balance in the account of $1,000 dollars as long as the account is open. We will be billed for treasury services based on the activity in the account.
This is the final part to the contract to provide safekeeping services for securities purchased by the County as investments. |
| Fiscal Impact: | The County will be billed for treasury services based on the activity in the account.
|
| Recommendation: | Approve and authorize the County Judge to sign the Authorization to Obtain Treasury Management Services Agreement with Frost Bank, to allow for the flow of funds from our depository bank to Frost Bank for the purchase of securities. (Contract No. 2021-0112)
|
| Prior Action: | August 6, 2018 - Commissioners Court approved changes to the safekeeping documents.
June 12, 2017 - the Depository Bank Contract was approved with Inter National Bank (INB) and the County sought out safekeeping services with Frost Bank, as INB was not able to provide these services.
|
| Strategic Plan: | .. |
| Strategic Plan Information: | |