CLEARFIELD – At the recommendation of the finance committee, board members of the Clearfield County Recreation and Tourism Authority authorized Executive Director Holly Komonczi to place its extra money with a financial institution at her discretion.
Komonczi advised board members that the committee met June 28 and believed an “immediate” concern was the placement of the extra money into an account, where it could bear interest but remain liquid, or accessible to them.
Board member Jane Elling of the finance committee said Komonczi explored account opportunities that were insurable up to $250,000. All were liquid accounts, according to Komonczi, so that the CCRTA could gain access if funding issues arose for them in the future.
“It wouldn’t be fiscally responsible of us for (our monies) not to be wholly covered by insurance with a financial institution,” board chairperson Nancy Micks said. “We’ve talked about potentially what do with those dollars, and we don’t want to take any chances.”
Micks said although investing monies can be frustrating, the CCRTA needs its monies to be covered. She said they should have Komonczi place any money in excess of $250,000, where it would be “insured and covered.”
Board member Joan Robinson-McMillen said the CCRTA shouldn’t place it all in one financial institution because it serves the entire county. Further, she suggested an account be opened in Clearfield and another in DuBois, or another area of the county.
The board voted, 9-0, to have Komonczi proceed with opening and placing its monies with a financial institution. Board members Missy Rummel, Wilson Fisher and Hildred Rowles were absent from the meeting.
