[{"_1":2,"_99":-5,"_100":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75,87],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6265963,"mediaKeyId","3088073-6a5d99f9993f32128e4fa26a4d29a150","parentId",3088073,"title","State auditor warns Klein Irrigation District; county staff monitor possible 'unauditable' finding","audioSeconds",445,"startMs",3761000,"endMs",4206000,"viewUrl","/Search/View?dp=1&key=3088073-6a5d99f9993f32128e4fa26a4d29a150&start=3761&end=4206","thumbnailUrl","https://assets.pipeline.soar.com/3088073-6a5d99f9993f32128e4fa26a4d29a150/thumbnail_3761000.jpg","articleUrl","/articles/6265963/Clallam-County/Washington/State-auditor-warns-Klein-Irrigation-District-county-staff-monitor-possible-unauditable-finding","mediaUrl","https://secure.pipeline.soar.com/6265963-c9b67211c2580a714608b428b7a5cc1b/orig.mp4?Expires=1775414601&Signature=U7ofjjrSnxtcn6PqEP3Hm5z-tQYJW3qfu~i8Zyr9~Zednkgjg0vwqk0yTFiA9h3Sa6Ch0FIuIGpz-FEmh64UcOSHymwqkRbjysJvPPeoVZDGisgoCghc5BIGNhbzwmsDaKdb7AZU-NHXKjDe3wxdCpTQYE7Ag0uwY23swOZ086Vn6G7u0ZhZiwAtGogQFduQtdyXO5KKYLp9J1f4bf71ZUFKPnZir6Zswy~9cJr6J5DmudbERFAwms4E4e~Sd0jdRr8pn0-rvEutAbL2E3YNavq80Uk32KxJ0MSZvJhjEOdqB~EVfmTc5e7OX9-OhHxPRLnyvRMMBXBwCUI8ddzbFQ__&Key-Pair-Id=KUT5TJCACFTXG","author","Clallam County, WA","date","2025-04-17T00:00:00Z","article","Clallam County staff told the finance committee they received a courtesy notice from the Washington State Auditor’s Office that Klein Irrigation District has not cooperated with its 2022–2023 audit and could soon receive an unauditable opinion. The county was informed the State Auditor\u0000may escalate enforcement to the state attorney general, which could direct the state treasurer to withhold monies and forbid the county from processing warrants for the district.

Why it matters: a finding of unauditable for a junior taxing district can trigger steps that block the district from receiving state-distributed revenues and can prevent the county from issuing payments or payroll on the district’s behalf. County staff emphasized they have no current instruction to stop routine processing; instead, they were notified as part of the auditor\u0000office\u0000courtesy and asked to be ready should the attorney general issue formal instructions.

Details from the committee briefing: the State Auditor\u0000reported repeated failure by the district to respond to requests and that the auditor\u0000has spoken individually with the district\u0000commissioners and secretary. In prior similar cases county staff said these final letters have sometimes prompted the district to respond, but if not, the auditor\u0000office can proceed to issue an unauditable report; once that report is issued, the attorney general could instruct agencies (including the county) to stop releasing funds and processing warrants.

County response and next steps: staff offered to send a county communication reminding Klein Irrigation District of the auditor\u0000office\u0000deadline and the potential consequences; the State Auditor\u0000said the county’s outreach would be appreciated but is not mandatory. County staff also discussed that, if the district were dissolved or placed in default, there could be follow-up work to determine disposition of remaining district funds and whether an adjoining district could assume administration for economies of scale.

Timing: the State Auditor\u0000will send a final letter giving the district 15 days to respond; staff said the time between an unauditable opinion and any attorney-general-led enforcement can vary and the county will await formal instruction before changing processing procedures.

Ending: staff will draft a courtesy email to the district contact and will update the committee if the State Auditor\u0000or attorney general issues formal instructions that would change the county\u0000processing or distribution of district funds.","mediaType","Video","parentTitle","Clallam County Finance Committee Meeting - April 17, 2025","oneSentenceSummary","The State Auditor's Office notified Clallam County that Klein Irrigation District has not responded to information requests for its 2022–2023 audit; the auditor warned the county the state may issue an \"unauditable\" opinion and the attorney general could direct the state treasurer to withhold funds and bar warrant processing.","taxTitle","Clallam County, Washington","taxId",54309,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6265968,"County treasurer reports reinvestment of matured CDs and short-term laddering to capture higher yields",580,294000,874000,"/Search/View?dp=1&key=3088073-6a5d99f9993f32128e4fa26a4d29a150&start=294&end=874","https://assets.pipeline.soar.com/3088073-6a5d99f9993f32128e4fa26a4d29a150/thumbnail_294000.jpg","/articles/6265968/Clallam-County/Washington/County-treasurer-reports-reinvestment-of-matured-CDs-and-short-term-laddering-to-capture-higher-yields","https://secure.pipeline.soar.com/6265968-4d96077bf4733783825fedd613d5a68b/orig.mp4?Expires=1775414601&Signature=CkRf4zzuJbDdlOL~BBqCeNmIMWmJ7ofmgoT~KjQ0~tndOKZKsGlwdOFl7tk-nEOGbwERFZPIXgbV2zRk~ExoO2VlEKKO1muf2KKjcTdu2v5B8wGyGaQonInEDcYpeBPxS7OzayGpB~gkQ7WtVK4jgFddgXOR~hW~N1ZczRJUjMJAcdEKgQjqdwjPxGKq2sygoLHTDZWMx2ZVDAHa68Qik23R45tXYkDH8SSyA0PLkf-FHLcxjJWhxs8CGc-g0aCf19lZOBBQBtErhoT3RPpdY-4yGkx6OrdwUxYTnPU5LHH2kuIks9gD6qVbrzaE-728Em4-IzNuV9wa5SUjbhXW8w__&Key-Pair-Id=KUT5TJCACFTXG","Clallam County finance staff reported reinvesting two matured certificates of deposit into new fixed investments and outlined a dual strategy of locking longer-term no- or low-call investments while running a shorter ladder to capture higher near-term yields.

Why it matters: the county’s investment choices affect cash availability for government operations and the return on public funds. Staff told the committee that one reinvestment was placed for 12 months at about 4.06% (4.16% APY) and another for 18 months at about 4.25% (4.33% APY). The committee was also briefed on Local Government Investment Pool (LGIP) rates and recent market volatility.

Senior Accountant Bridal and Brian, the county’s account and investment officer, described how markets have moved quickly: new agency note offerings were showing materially different yields and call features in short windows, and banks are increasingly reluctant to offer competitive rates beyond 12 months. Staff said the county has been benefiting from relatively high LGIP yields while balancing duration risk on purchased notes.

Mike Abbott, CashFest, reinforced the county’s approach: he praised recent purchases that captured yields “well into the 4% range” for 12- to 60-month terms and recommended that public entities invest available cash rather than attempt to time rate movements. Abbott also noted an operational improvement in the county’s check-to-ACH ratio, now around four ACHs to one check, which he said meets a marketplace benchmark.

Planned moves and scale: staff reported reallocating funds that matured and adding roughly $2 million to a new short-term product that will settle near the end of the month; staff said the reinvestments and the supplemental purchase totaled about $4 million at a roughly 5% quoted yield on the short-term product (three-month no-call protection). County staff emphasized these shorter-duration, higher-yield lanes are intended to supplement the county’s longer-duration core holdings.

Market context: speakers noted that treasury yields have oscillated, that banks are conservative on 24-month and longer offerings, and that forecast uncertainty (including potential Federal Reserve cuts later in the year) is affecting banks’ appetite to originate longer-duration public deposits. The committee also discussed callable investments and the trade-offs between higher initial yields and call risk.

Ending: the committee accepted the investment update for the first quarter and asked staff to monitor rate movement and continue to balance liquidity needs with yield opportunities. Staff also noted a future lines-of-credit discussion would follow in committee as needed.","Clallam County reinvested two matured certificates of deposit and will use a mix of short-duration higher-yield instruments and longer-duration no-call investments to balance yield and liquidity amid volatile rates.",{"_33":88,"_35":36,"_37":38,"_39":89,"_41":90,"_43":91,"_45":92,"_47":93,"_49":94,"_51":95,"_53":96,"_55":56,"_57":58,"_59":97,"_61":62,"_63":64,"_65":98,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6265973,"Clallam County staff to launch banking RFP; CashFest to manage electronic submissions",1076,129000,1205000,"/Search/View?dp=1&key=3088073-6a5d99f9993f32128e4fa26a4d29a150&start=129&end=1205","https://assets.pipeline.soar.com/3088073-6a5d99f9993f32128e4fa26a4d29a150/thumbnail_129000.jpg","/articles/6265973/Clallam-County/Washington/Clallam-County-staff-to-launch-banking-RFP-CashFest-to-manage-electronic-submissions","https://secure.pipeline.soar.com/6265973-e0614ebad4a8481d449ac3448b3af32c/orig.mp4?Expires=1775414601&Signature=bAxKMwXk96uYzurfM7yKPq0R2kZtKcSnCsSxWfw6qKvyguZrVpDpqCPodDy3nwI82Q3hd5yb-OWnGRBBZA-aPOqEgybbLZa2vItBpNixODcbtvGAR-1ez8f2PHlYbvZMi12xJkbeO8E6JnQhfUJDvIW6qeXBRrDVBxwqiFTHIMSR1lu5I9uxgLaHDdBlkyCUNdlWNTjP-Upj1sV8PKgA~Y3o2kIfx4O8a5yYRBeXkzErnHhzDiZkHCgI7qDZoppvkYpGg7rYuYxKV9N~8eTJxdPo49F9rj0DGCF~KPgnIQpbQj2OOFOfGnsLd4sMw7KM7KSYEENRHabRx5MOvG3yQA__&Key-Pair-Id=KUT5TJCACFTXG","Clallam County finance staff announced plans to publish a request for proposals (RFP) for the county’s banking services, including deposit accounts, merchant services and credit-card programs, and asked the committee to approve a public timeline and the use of CashFest’s electronic portal to collect proposals.

The discussion, led by county finance staff and CashFest representative Mike Abbott, centered on timing, required procurement steps and technical needs such as integration with the county’s changing financial software and the ability to test direct-deposit (“pre-note”) banking information. The committee agreed to place the RFP on an upcoming work session and a following regular meeting for public notice and potential approval to release the solicitation.

Why it matters: the county currently uses multiple banking relationships (including US Bank for many county accounts) and some county departments hold separate fiduciary accounts. County staff said the RFP will allow bidders to propose full-service relationships (banking, merchant services and purchase-card options) and to describe additional services such as short-term revolving credit facilities.

County staff said CashFest will host the electronic application portal, where bidders can complete required forms, upload documents and receive time-stamped confirmations. Mike Abbott, CashFest, told the committee: “We can adjust our normal process. Nothing here is really set in stone,” and described features of the portal used for other county RFPs, including yes/no question fields, long-form text boxes and an upload area for supporting documents.

Procurement and schedule details: staff said the RFP could be released faster than previously planned (they had originally considered June) and recommended a public work session to present the number of proposals received and a subsequent commission meeting to refer proposals to the procurement review. The committee discussed typical response windows and best practices: several speakers recommended 3–4 weeks for proposals rather than a two-week window to avoid discouraging bidders. Staff also said finalists would be narrowed to three for in-person or virtual demonstrations and interviews.

Technical and policy issues: committee members pressed to list the county’s in-use and soon-to-be-adopted financial software in the RFP so bidders can show integration capability; interim IT Director Monica Anderson said IT will need to join future vendor demos. The committee also discussed whether credit-card (p-card) programs should be bundled with the banking RFP or run separately; staff said p-cards are included under services in the current draft but acknowledged that many counties treat card programs as a separate procurement.

Legal and procedural oversight: staff reviewed procurement policy language and said the county’s Policy 5-60 governs RFP processes and that responses must be received by the clerk of the board. The committee agreed the safe path is to run a work session and then a regular meeting to approve release, allowing time for legal review and minor edits. Staff said CashFest will email the county’s procurement point and the clerk with timestamped submission notices so the county can document on-time responses.

Costs and transition: speakers noted switching banks can require one-time costs (new check stock, endorsement stamps, system updates) and could require running accounts in parallel during transition. Staff said they have discussed timing with human resources and other departments to minimize operational disruption and aim to complete any change by August if a switch is approved. IT participation during vendor demos and before ERP go-live was emphasized as important to ensure integrations are resolved before full ERP implementation.

Votes at a glance: the committee approved the meeting agenda as amended and approved the prior quarter minutes by voice vote. No formal vote on publishing the RFP was recorded in the transcript; staff will return with a proposed work-session agenda and the draft RFP for commissioner consideration.

Ending: staff will circulate a revised RFP that names the county’s financial software, includes a question about pre-note testing for direct deposit, and lists examples of additional services (short-term revolvers, merchant/credit-card flexibility) for bidders to address. The committee plans a work session to review proposals and then a posting to the regular commission agenda for formal action if needed.","County finance staff moved to publish a request for proposals for banking services this spring, asking bidders about deposit, merchant and credit-card capabilities and contingency lending; CashFest will host the submission portal and staff expect the process to run through work sessions and a commission meeting.","actionData","errors"]

Article not found

State auditor warns Klein Irrigation District; county staff monitor possible 'unauditable' finding

County treasurer reports reinvestment of matured CDs and short-term laddering to capture higher yields

Clallam County staff to launch banking RFP; CashFest to manage electronic submissions