Wasco County finance director reports PERS side account, early fiscal-year fund positions and strong fair revenues

Wasco County Finance Director Mike Middleton presented the county’s early fiscal-year financial report at the Sept. 3 Board of Commissioners meeting, saying staff had made a one-time $2 million transfer into a general operating reserve and set up another PERS side-account aimed at lowering employer pension rates.

Middleton said the county “put an extra $2,000,000 into our general operating reserve fund” and that, because of that deposit and the new side account, the county will receive a PERS rate credit of about 1.95% effective Sept. 1. He explained the side account is placed with PERS, which amortizes the contribution over a 20-year schedule and reamortizes periodically to produce a rate credit for the county.

Key financial points: Middleton said investment earnings in nondepartmental accounts were running “right at 8.5%,” and that several funds show early-year variances related to seasonal activity and bulk purchases. He reported the building fund’s departmental revenues are ahead of straight-line expectations (23% for general building and about 11% for electrical departments) and that public works has typical early-year bulk material purchases that pushed departmental expenditures above the straight line (about 22% driven by seasonal supply buying and equipment).

Fair revenue and attendance: Middleton previewed preliminary fair numbers and said the fair’s revenues exceeded last year’s budget expectations. He reported ticketing and vendor receipts were higher than projected: food-vendor revenue was estimated at about $27,000 (the adopted budget had expected roughly $19,000) and the project team estimated unique fair visits at about 5,168 and approximately 5,800 person-days if multi-day passes are counted. Middleton also said some receipts were received in cash and therefore did not go through the ticketing vendor’s systems and that final vendor checks were still being processed.

Other highlights: Community Corrections recorded a grant that put departmental revenues at about 21% year-to-date, and reconciliations for July were completed and on file, Middleton said. He confirmed several purchase orders for public-works bulk materials and fuel explained much of the department’s early spending spike. On a separate question from a commissioner, Middleton confirmed the city of The Dalles has not resumed past municipal support for specialty courts and that the county absorbed a roughly $80,000 revenue reduction when that city service ended several years ago.

What it means: The finance director said the PERS side account and the reserve transfer are part of an active strategy to manage long-term personnel-cost volatility and reduce sudden rate increases. The fair and building fund results suggest stronger-than-expected early activity for seasonal revenue sources, and staff will continue to refine final closeouts for the fair as vendor checks clear.

Next steps: Middleton said staff will continue monthly reporting and return with the next regular finance report at the scheduled meeting; he noted he will be out for the next scheduled meeting to attend a state finance conference.