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Originally published by Nation CountiesSeptember 29, 2026
2h ago
Counties add 1,411 'secret' commercial bank accounts
Number of commercial bank accounts operated by counties rose to 6,503...
✨ Key Highlights
County governments have significantly increased the number of commercial bank accounts they operate, defying legal frameworks and complicating financial oversight.
- Counties added 1,411 new commercial bank accounts in the year to June, bringing the total to 6,503, a 27.7 percent increase.
- The Controller of Budget (CoB) disclosed these figures, highlighting a breach of regulations.
- This proliferation of accounts, many deemed unauthorized, undermines efforts to consolidate public funds and strengthen cash oversight.
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