Subject: Request for Review: Potential Conflict of Interest Involving MTAA Deposits at Central National Bank and Board Member Michael Munson
Dear Commissioner Cook and Mayor Duncan,
As citizens and stakeholders of Shawnee County and the City of Topeka, we write to request your attention to a potential conflict of interest concerning the Metropolitan Topeka Airport Authority (MTAA) and its banking relationship with Central National Bank (CNB).
Public MTAA board packets (available on mtaa-topeka.org) confirm that CNB is an authorized depository for MTAA funds and that the Authority has held significant CD investments there (e.g., over $3.5 million in CDs split among CNB and other banks as of late 2023). MTAA’s recent financial audits show millions in cash equivalents and CDs.
MTAA Board Member Michael Munson (county appointee) serves as Executive Vice President and General Counsel at CNB. His sister is CNB’s President/CEO. While we understand MTAA has a conflict-of-interest policy and that Mr. Munson has recused himself on certain votes in the past, the placement of public funds in the institution that employs him raises questions about the appearance of impropriety and whether decisions about depositories, rates, and investments are made with maximum benefit to taxpayers and the Authority.
We respectfully request:
- Confirmation of the current status and amounts of any MTAA deposits, CDs, or banking relationships with CNB.
- A review of MTAA’s conflict-of-interest policies and procedures as they apply to this relationship.
- Any steps you, as appointing/oversight officials, believe are appropriate to ensure full transparency and public confidence in the management of these public funds.
We appreciate your leadership on matters of good governance and economic development in our community and would welcome any response or further dialogue.
Sincerely,
Henry McClure
MCRE, LLC
3625 SW 29th Street
Topeka KS 66614
785.383.9994
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