North Dakota
Study recommends shifting state dollars away from Bank of North Dakota
BISMARCK — A cash management study presented to lawmakers on Tuesday, Sept. 17, recommends shifting state money away from the Bank of North Dakota to increase returns for state government.
The state keeps most of its operating funding at the Bank of North Dakota, the nation’s only state-owned bank. A consultant’s report found that this relationship could be harming both parties, but it was met with criticism during a meeting of the Legislature’s Government Finance Committee.
The report, prepared by consulting firm RVK Inc., likened the state to a “captive client” to the bank and reasoned that state agencies are subsidizing the bank’s income by accepting lower returns on their assets.
At the same time, this relationship also puts pressure on the Bank of North “to return dividends to the general fund,” said RVK senior consultant Josh Kevan.
The consulting firm proposed removing the state’s funds from the Bank of North Dakota and having state agencies take over some of the cash management duties currently performed by the bank.
“That is in no way a recommendation to seize the operations of Bank of North Dakota,” Kevan said. “We assume that that continues to be a valuable part of your state’s infrastructure, but we do recommend exploring other ways to finance the bank’s balance sheet.”
The firm estimated that implementing its recommendations would bring the state an additional $9.5 billion over the next two decades.
The report’s findings drew skepticism and ire from legislators and some members of the banking community, who fear moving the money could hurt the Bank of North Dakota and other financial institutions in the state.
Many questioned how the state would replace the funding if North Dakota were to move forward with the firm’s recommendations.
Kevan said that this was beyond the scope of the report.
Susan Sisk, director of the Office of Management and Budget, said the study’s steering committee recommends that lawmakers authorize an additional study that would research options for how the state could replace the Bank of North Dakota’s capital if the state’s operating funds were moved elsewhere.
Sisk told lawmakers that the steering estimates such a study would cost between $300,000 and $400,000.
The study presented on Tuesday cost $395,000, not including travel costs, according to the Office of Management and Budget.
Bank of North Dakota CEO Don Morgan, who has led the bank for roughly a month, said he doesn’t yet have a position on the recommendations.
Mary Steurer / North Dakota Monitor
“This could be a really sound business idea,” he told the committee. “It really could, or it could not. At this point in time, for me, a key point is just not enough information.”
Alexis Baxley, president of the Independent Community Banks of North Dakota, said the association opposed the recommendations because members viewed them as an affront to the Bank of North Dakota’s mission.
“I think that removing the funding from the Bank of North Dakota would have a devastating impact on all of the rural communities,” said Sarah Getzlaff, CEO of Security First Bank of North Dakota.
Several people remarked during the meeting that they hadn’t had time to digest the report, since it was only made public a day ahead of the committee meeting.
Implementing the changes would require significant changes to state law, Kevan acknowledged.
Gov. Doug Burgum has advocated for a cash management study, highlighting that North Dakota could be earning higher returns for its rainy-day funds. The North Dakota Industrial Commission, led by the governor, oversees the Bank of North Dakota.
This story was originally published on NorthDakotaMonitor.com
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MAPLETON, N.D. (Valley News Live) – Casselton Fire responded to a shop fire in rural Mapleton on Saturday afternoon, according to Casselton Fire Chief John Hejl.
Casselton Fire was dispatched to the scene at 3:30 p.m. Saturday. Windy conditions escalated the fire before crews arrived, Hejl said.
Firefighters used defensive and offensive lines to control the fire upon arrival.
Casselton Fire was assisted by Cass County Sheriff’s Office, Casselton Ambulance, West Fargo Police Department, Davenport Fire and Mapleton Fire.
Copyright 2026 KVLY. All rights reserved.
A do not use water advisory issued by the City of Finley, North Dakota. April 2026.
FINLEY, N.D. (KFGO) – The city of Finley, North Dakota has been without potable water since Friday due to a suspected water main leak. Steele County Emergency Management says it is unclear how long it will take to restore water services in the city.
The North Dakota Department of Environmental Quality says the available water in Finley has been deemed unusable for drinking, cooking, bathing and washing dishes or laundry.
The water system will need to be flushed and samples that say the water is safe will need to be collected for the water advisory to be lifted.
Richard D. “Rick” Langowski, age 78 of Minto, North Dakota passed away on Thursday, April 16, 2026 at his home in Minto.
Rick was born March 10, 1948 in Grafton, North Dakota, the son of the late Julian and Catherine (Wysocki) Langowski. In 1967, he volunteered for the military bringing him to Germany as a Motor Sargent. After an Honorable Discharge he took a job at the International Airport in Grand Forks, ND. His duties included: refueling planes and jets as well as maintaining the grounds. He had the opportunity to meet the famous singer Mr. James Brown.
Rick was united in marriage to Alice Odegard on June 17, 1982 in Minto, North Dakota. The family made their home in Minto where they raised Jason and Angela. Rick was very proud of his children and loved them more than anything. He told everyone and bragged about the children he raised. He cherished his grandchildren and loved to be present in every aspect of their lives.
His career changed to semi driving where he drove for Cenex Transportation for four years and ten years for Valley Transports. His love for the open road directed him into the used car business. He opened Minto Auto Sales and Services in 1987, proudly operating for 39 years. He had the privilege to meet many people and travel to many places. He enjoyed riding his many Harley Davidson Motorcycles. In 2025, he sold the business to his longtime mechanic and friend, Aaron Anderson. In Rick’s opinion, “Minto Auto is one of the best mechanical shops in the area.”
He was a member of the Sacred Heart Catholic Church, Minto, ND. He loved hunting with Jason, watching sports, especially the Yankees and Twins. In 2017, Rick was able to enjoy a father/son trip of a lifetime to Alaska. He thoroughly enjoyed every aspect of the trip and thought was the best time of his life.
Rick is survived by his children: Jason Odegard, Reynolds, ND; Angela (Nick) Eppert, Goshen, IN; grandchildren: Ashlyn, Kaia, Annika, Boden and Caelan; sisters: Carol King, Grand Forks, ND; Connie Jones, Argyle, MN; seven nieces and nephews. He is also survived by his very close friend and confidant, Yvette Estep, Grafton, ND. He was preceded in death by his parents and siblings: Robert and Ronald.
Rick’s family would like to extend a very special thank you to Yvette Estep, an employee of Rick’s, affectionately known as “hotrod.” She was there for Rick, along with Aaron for doctor’s appointments, treatments and helped comfort him throughout his battle. Jason and Angela will be forever indebted to her and consider her family.
Mass of Christian Burial will be Wednesday, April 22, 2026 at 10:30 A.M. at the Sacred Heart Catholic Church of Minto. Visitation will be for one hour prior to the service at the church. Interment will be at the Sacred Heart Catholic Cemetery, Minto, ND. Military Rites will be provided by the Minto American Legion Post and the North Dakota National Guard Honor Guard.
or send flowers to the family in memory of Richard D. Langowski, please visit our
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