Megan Spielman

Megan Spielman

La Paz County Administrator

La Paz County has a bank again for the county government. At the County Board of Supervisors’ July 5 meeting, County Administrator Megan Spielman announced Western Alliance Bank of Phoenix has agreed to handle the county’s finances, as well as those of the special districts within the county. These districts have their funds held by the County Treasurer’s Office.

Western Alliance Bank replaces Chase Bank, whose contract with the county expired July 1.

Spielman thanked Vanessa Burke of the Pun (pronounced “Poon”) Group for putting her in touch with Western Alliance Bank.

This is the latest step in the County’s attempts to restructure its finances following the finding earlier this year that the county’s general fund was insolvent. Independent consultants Jay Parke and Karen Ziegler told the Supervisors April 19 that the figures they had for fiscal year 2019-20 was the general fund was short by $3.4 million. They estimated that figure could top $4 million by the end of fiscal year 2020-21 on July 1, 2021.

Parke and Ziegler were helping prepare the county for their annual audit.

In their presentation, Parke and Ziegler said the county was borrowing from special funds to prop up the general fund. They said this was illegal, as many special funds are restricted as to how they can be used. They said the county needed to get their general fund expenditures in line with their revenues.

County District 2 Supervisor Duce Minor emphasized no funds from the special districts were used to prop up the general fund.

One side effect of the county’s general fund shortfall was financial institutions were reluctant to deal with the county. Parke and Ziegler said Chase Bank had decided they would no longer be serving the county.

On May 17, the county hired the Pun Group Accountants & Advisors to help with the county’s finances. The person leading the group working with the county is Vanessa Burke, a former Chief Financial Officer for the City of Stockton, Calif.

Spielman said it was Burke who put her in contact with Western Alliance, and they were willing to work with the county on establishing financial accounts. The agreement includes treasury management, a line of credit, and separate agreements with the special districts.

“They worked with us,” Spielman said. “Their customer service is outstanding.”

The county is now working to get everyone trained to work with Western Alliance.

Spielman said that Chase Bank has been very supportive through the entire process, even though their contract expired July 1.

Minor expressed his thanks and appreciation to everyone involved in the process of getting a new back for the county. He thanked Spielman for his thorough approach to the matter.

“I like her leadership style,” Minor said.

In information provided by Spielman, Western Alliance said they are regularly rated as one of the top banks in the nation by Forbes Magazine. They have assets of $43.4 billion. They have loans of $28.7 billion and deposits of $38.4 billion. They have 1,947 employees in 49 banking offices.

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(16) comments

sam whittemore

so confusing.......if you are insolvent, why do you need a bank? wonder what kinda outfit the person from broke richard stockton steered the county too? low bid? at least we heard all the buzz words used by the elected personnel. good for the feels. doesn't really get anything done though. maybe we can get some help from the experts in Bell, cali.

assured

to much cali in this plan,isn’t stockton one of the bankrupt cities?

sam whittemore

the audit crew sez restricted founds were used illegally. iL Duce sez no way.....who ya gonna believe? guarantee that firm wont ever do another audit here. gotta love politicians!!!!!

ANelson

Restricted funds are monies designated for specific County uses under the Board of Supervisors control, such as Task Force, Boating Safety, Elections, Jail District, Grants, etc. Special District funds are monies monies from entities such as Fire Districts, Sewer Districts, water districts, improvement districts, lighting districts, and others, managed by their own boards of directors. Apples and Oranges

Michael Roth

This county never ceases to amaze me. It’s one stellar lie and failure after another

sam whittemore

they are all corrupt and / or incompetent. but the fact they get reelected is a reflection of the voters. this country is done fer. best be ready for whats a comin. the average la pazian aint too sharp.

anitaburro

Are you sure it's the voters? Election Department: Kimmy Olsen while acting as Deputy County assessor fraudulently changed names on parcels.

anitaburro

elected criminals, correct me if im wrong, elected officials answer to; "we the people"

is megan spielman, superior court clerk or county administrator or superior clerk administrator? corruption in lapaz county seat.

is it the "sheriff " who investigate a crime? when a crime is reported isn't there a police report?

sam whittemore

i like your thinkin there burro, but really, if voting mattered, they wouldnt let us do it. its all kabuki theater . always has been. they dont try to hide it anymore, since there is no penalty for them.

anitaburro

elected officials answer to "we the people", appointed officials, answer to elected officials. "we the people " need to hold elected officials accountable for their fraudlent acts. "oath",

13-2702. Perjury; classification

A. A person commits perjury by making either:

1. A false sworn statement in regard to a material issue, believing it to be false.

2. A false unsworn declaration, certificate, verification or statement in regard to a material issue that the person subscribes as true under penalty of perjury, believing it to be false.

B. Perjury is a class 4 felony.

sam whittemore

good luck finding anyone to bring charges against them. its a big club. we aint in it. la paz runs its own political machine here. it does what it wants.

anitaburro

I have been in this county for 25 years, believe me I'm very aware of the "club",

I'm stubborn as a jackass, "burro", lol,lol,

sam whittemore

lololol!!! glad youre here.

Michael Roth

If this County had real debates, not just introduce yourself and not have to answer questions from the audience, then maybe the voters will make wiser choices. Maybe.

sam whittemore

its noy fixable at this point anymore, Mike. people want to live a comfortable lie. no one wants to hear the depressing truth. you, yourself have tried to tell them. this county , like every other place has a machine, and it depends on mass stupidity and willful ignorance to run. and its firing on all cylinders. peeps still get to be fat and lazy without repercussions. its the collapse of Rome, but with wifi.

anitaburro

funny getting new superior court clerk! Wait and see quickle will not be judge much longer.

sheriff ponce and county attorney tony rodgers are ba--less, greed is evil. you can only play with 🔥for so long before you get burned.

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