Putnam County government to bank with First National

Tuesday, March 8, 2022

Putnam County government will soon be banking with a locally-based institution.

Meeting as the Board of Finance along with County Treasurer Kathy Minnick Monday, the Putnam County Commissioners voted unanimously to move the county’s accounts to First National Bank, which is headquartered in Cloverdale and has three branches in Putnam County.

The county’s current institution is Old National Bank, which though it is more of a regional bank has the most conveniently-located branch, as Minnick and her deputies have less than a block to walk to do the county’s banking.

However, some unexpectedly high fees based on the county’s balance at one point last year prompted local officials to begin shopping for another institution.

While the county also had proposals from First Financial Bank and North Salem State Bank, First National and Old National emerged as the main contenders due to the availability of a local dropbox where residents could send their property tax bills.

The dropbox feature is of great help to the Treasurer’s Office, as it saves the county workers hours of processing tax bills each May and November.

Minnick intends to keep one account with Old National open through the end of the year, as First National does not have time to set up a dropbox in time for the May 10 spring installment deadline. Besides this, the information on tax statements has already been approved for printing with the address for the Old National P.O. box.

However, between interest rates and fees, county officials say the move to First National will be a financial upgrade for the county.

The county plans to switch all but one account by April 1.

Another financial consideration for the county is adopting a cumulative capital fund, which would replace the current cumulative jail and cumulative courthouse funds.

The draw of the new fund is that it should capture more money outside of the county’s normal tax levy than the other two funds combined, though officials believe it will not actually mean higher taxes.

“The state gets whatever we don’t capture or decide to claim,” Commissioner Rick Woodall said.

Auditor Kristina Berish added that the new fund provides more flexibility than the current funds devoted to just the courthouse or jail.

“Capital is going to give you a lot more options than courthouse or jail,” Berish said.

The idea was not approved on Monday, but the Commissioners gave County Attorney Jim Ensley their blessing to move forward with drafting an ordinance.

In moving toward making the fund a reality, the Commissioners will have to create the fund and set the maximum tax rate, while the County Council will choose the actual rate.

In other business the Commissioners:

• Learned more about Pictometry, the company that is providing a new layer of GIS data to the county’s mapping system.

The new partnership with Pictometry will help the Putnam County Assessor’s Office keep tabs on new developments on properties that are not easily accessible.

The company plans to get new images this spring before leaves fill in to get information that is as up to date as possible. Should the county be happy with the results over the coming years, another flight will take place in early 2025, though there is currently no contractual obligation.

Aside from the Assessor’s Office, Putnam County EMS, 911 Dispatch and the GIS Office will also utilize the new information.

• Received a request to assist with constructing a veterans memorial in Russellville.

Daniel Justiniano made the request, explaining that there is no such monument for veterans of Russell Township.

He said that while the Town of Russellville doesn’t have funds to contribute to the effort, it had approved the site of the town’s old hotel as a spot for a memorial.

Justiniano also said he is speaking to veterans associations for funding, and that Cash Concrete has agreed to help with the effort at a reduced rate.

The Commissioners said they would consider helping with funding for the project.

• Approved renewing the county’s annual agreement with Loren Hoopengarner for dust control on gravel roads in the county.

Last year, Hoopengarner charged $300 per 300 feet of road to put down the soy-based oil, with the county paying $100 and residents paying $200.

This year, the cost is going up to $330 per 300 feet, but the cost to residents will stay the same, meaning the county will pay $130 per application.

However, the county’s $15,000 budget for the project remains the same, meaning it will only be able to partner with 115 residents, as opposed to 150 last year.

• Discussed the need for paving on the cut-through road at the end of State Road 240 between State Road 75 and U.S. 40.

While the short road is officially County Road 200 South, which falls within Putnam County’s grid, most of it is actually the responsibility of Hendricks County to pave, due to it falling on the county line. The road falls at the extreme northern end of the portion of Jefferson Township that juts into Hendricks County.

Only the last few hundred feet, where the road veers slightly south near U.S. 40, is Putnam County’s responsibility.

Interim County Highway Superintendent Clint Maddox told the Commissioners that Hendricks County has agreed to pave the entire length of the road, asking that Putnam County reimburse Hendricks for its portion.

While the Commissioners agreed to this arrangement, Commissioner Tom Helmer, a longtime police officer, expressed his desire that the road be closed due to the high volume of serious accidents that occur at the intersection with U.S. 40.

NOTE: A previous version of this story incorrectly noted that tax bills had already been mailed. They have been approved for printing.

Comments
View 2 comments
Note: The nature of the Internet makes it impractical for our staff to review every comment. Please note that those who post comments on this website may do so using a screen name, which may or may not reflect a website user's actual name. Readers should be careful not to assign comments to real people who may have names similar to screen names. Refrain from obscenity in your comments, and to keep discussions civil, don't say anything in a way your grandmother would be ashamed to read.
  • Personally I would have stayed with ONB - no transporting money to the east side of town.

    -- Posted by Workingthesoil on Wed, Mar 9, 2022, at 6:15 PM
  • If the new cumulative capital fund has more flexibility, could we please use it towards improving county roads?

    -- Posted by bevaallmanmiller on Fri, Mar 11, 2022, at 6:06 AM
Respond to this story

Posting a comment requires free registration: