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File #: 22-5154    Version: 1 Name:
Type: Financial Authorization Status: Agenda Ready
File created: 8/16/2022 In control: Commissioners Court
On agenda: 9/13/2022 Final action: 9/13/2022
Title: Request for approval to move funds presently held in the General Fund for bail bond companies and attorneys to the Master Bail Bond Escrow Account for further transfer to individual bank accounts held in trust for the specific bail bond companies and attorneys at the Harris County Depository Institution, Cadence Bank.
Sponsors: Dylan Osborne
Department: Treasurer
Department Head/Elected Official: Dylan Osborne

Regular or Supplemental RCA: Regular RCA

Type of Request: Financial Authorization

Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A

MWDBE Contracted Goal (if applicable): N/A
MWDBE Current Participation (if applicable): N/A
Justification for 0% MWDBE Participation Goal: N/A - Goal not applicable to request

Request Summary (Agenda Caption):
title
Request for approval to move funds presently held in the General Fund for bail bond companies and attorneys to the Master Bail Bond Escrow Account for further transfer to individual bank accounts held in trust for the specific bail bond companies and attorneys at the Harris County Depository Institution, Cadence Bank.
end

Background and Discussion:

Presently the funds are held in the General Fund, the only way cash depositors can verify their total amount of funds on deposit is to contact the Treasurer's Office to receive a letter from the Treasurer stating the amount on deposit. All funds presently held on deposit in the General Fund are not held separately and not available for Harris County use. Moving the funds to an individual depository account allows for greater transparency for both the depositor as well as Harris County. Additionally all tax documentation will be completed by Cadence Bank yearly for all interest earned on the funds deposited. It will also negate the need for the Auditor's Office to split out a monthly interest rate for these deposits.

Expected Impact:

Increase transparency and reduce overhead administration

Alternative Options:

Continue operating in the present manner

Alignment with Goal(s):
_ Justice and Safety N/A
_ Economic Opportunity N/A
_ Housing N/A
_ Public Health N/A
_ Transportation N/A
_ Flooding N/A
_ Environment N/A
_ Governance and Customer Service -provides greater transparency for depositors

Prior Court Action (if any):
Date
Agenda Item #
Action Taken
25-Jun-2...

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