FARMINGTON — The Franklin County treasurer told commissioners Tuesday that she hasn’t had time or the resources to move about $2 million in federal funds to a higher interest-bearing bank account.

Commission Chariman Terry Brann of Wilton previously asked elected Treasurer Pam Prodan of Wilton to get the best interest for the American Rescue Plan Act money. The interest can be used by the county for anything it wants but the federal funds have restrictions.

The county has received about $2.9 million of its $5.86 million allotment. The other half is expected later this year.

Brann asked Prodan on Tuesday if some of the money had been moved to a higher interest bank account.

“I am really sorry to report, that, you know, we just don’t have the resources to be able to do that right now,” she said. “I feel really sad about it. There is a huge void in this office. I mean right now the two people who have served the county the longest in the administration suite have left the county.”

Former county Clerk Julie Magoon resigned in February and interim Clerk Vickie Braley has gone to part-time and is on vacation. She is available to staff as needed. Braley hoped to retire Dec. 30, 2021. but agreed to stay on as interim clerk until a new one is hired.

“It is pitiful really that we can’t do this but there are only so many hours in the day,” Prodan said.

On the positive side, the staff has been working hard to try and fill the void, she said, but “we just have so much work to do.”

New Finance Manager Diane Dunham, who started on Dec. 6, 2021, is working really well but there is a lot to learn, Prodan said.

Banking platforms have changed, Prodan added. There is a lot of paperwork to open an account. She is dealing, among other tasks, with online banking, secure, encrypted emails, bank account reconciliation every month, and payroll every two weeks.

“We are still trying to catch up,” Prodan said. “You just can’t keep piling work onto staff.”

Interest rates in these types of cash management accounts fluctuate, she said. The interest rate you start with may not be the same throughout the time it is in the bank.

With all the banking and other level of work that needs to be done, she said, in her judgment it’s not a good time to move the money.

Brann said he doesn’t know why the money was put in a bank with the lower interest rate.

“This is temporary money it is going to go away, you may not like it,” Prodan said, but the money needs to be managed properly and they need to be transparent about what money is being spent for so the federal government accepts the financial reports.

“I agree with transparency,” Brann said.

“You cannot do it if you create complexity that makes it hard to manage,” Prodan said.

“I didn’t intend to create any problems. All I asked was ‘are we getting the best interest for the $2 million that we put into a bank’ and the answer is no,” Brann said.

“Of course not, because all you are thinking about is the interest and I am telling you about the other factors that go into a judgment as whether it is appropriate,” Prodan said.

“As a taxpayer I would be pretty disappointed in this group if I were investing my money in a bank and I wasn’t getting the best,” he said.

“Well you can chit and chit and offer your opinion,” she said, “but I am treasurer because I am looking at the big picture.”

“There are five days in a week so if there is an issue with it you should work more hours instead of just two (days,) Brann said.

“You have the final word,” Prodan said.

Not all staff in the administrative office agreed with Prodan’s description on what is happening in the office.

“The recent communication at the commissioners meeting on March 1 painted a picture that in our office, we are overwhelmed and ‘trying to catch up.’ This is simply not true,” Tiffany Baker, county human resource specialist and administrative assistant, wrote in an email Thursday. “I feel it’s important to inform the public that our office is functioning smoothly despite many recent changes. All day-to-day financial, payroll and vendor payments are up to date, and I, as an HR professional, am ensuring the well-being of the employees in and out of the office.”

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