The county could start looking outside of the area to bank its funds.
Clay County Treasurer Debbie James presented a resolution to the Clay County Commissioners during Monday's meeting, which could provide the option to use banks outside of the county to hold Certificates of Deposit.
"Interest rates at local banks have been dropping the past few months and if they drop too low, it would give us the opportunity to look at other options," James said. "We can use this to solicit bids from banks, including those inside Clay County, that are on an approved list from the Indiana Board of Depositories."
The commissioners suspended the rules an approved the resolution, which is good for two years, on the first reading.
Renewal of the insurance plan for county employees was also on the agenda for the commissioners to consider.
Cathy Dunn, of Dunn and Associates, presented the commissioners with multiple options to renew the insurance plan, which is currently with Alliance Insurance.
Dunn said the summary plan description and new open enrollment plans would need to be reissued to stay up-to-date and recommended the plan to stay with Alliance.
For the third straight year, the commissioners approved the insurance plan from Alliance, which includes a 6-percent increase in insurance premiums.
"The average increase, based on inflation, for the majority of plans is 7-8 percent, so I think we are doing pretty good," Dunn said.
The commissioners also approved a three-year contract extension with the insurance company which includes a 1.8 percent increase in administration costs.
The approval of all insurance items are subject to review from legal counsel prior to completion.
Other items of note from Monday's meeting included:
* Discussing a potential plan to upgrade the electrical system on the west side of the Clay County Courthouse to allow events to use power on a separate meter.
Those choosing to utilize the meter would have to cover the costs of usage, and would have to get approval before using the meter.
This was approved pending legal counsel review of a written document from Duke Energy outlining the terms, which still needs to be drawn up,
* Approval of the first reading of an ordinance setting fees for derelict properties.
Fees collected from violations will come from the court decisions and will go into a County Improvement Fund, which the ordinance also established.
The Clay County Council also has to approve the ordinance before it goes into effect, and
* Discussion with the Clay County Community Parks Association regarding using county equipment to help create a walking track around Craig Park.
The association should receive word on if they receive a grant for the project in September.
The commissioners were supportive of the idea, but would like to take a look at the area to ensure the equipment would be able to navigate around the proposed area first.
The next meeting of the Clay County Commissioners will be Monday, June 2, at 9 a.m., in the Commissioners' Courtroom of the Clay County Courthouse.