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Cowlitz County treasurer reports steady revenue, flags April property-tax influx
Summary
County treasurer staff reported first-quarter collections and investment-pool performance, noted unclaimed-property receipts and lower early-year tax collections tied to delayed tax statements, and described progress on delinquent personal property accounts.
Kathy Funk Baxter, Cowlitz County finance director, presented first-quarter financial results for the county treasurer’s office on April 8, reporting that revenues are outpacing expenses and that a larger property-tax inflow is expected in April when the first half of taxes are due.
The treasurer’s office is funded from the county general fund but “brings in the majority of our revenue,” Funk Baxter said. She told commissioners that the treasurer’s office was budgeted to collect $21,583,000 in taxes for the county portion this year and had recorded $1,943,000 in collections to date, with a larger payment expected in April when the first half of property taxes are due.
Why it matters: Property taxes are the treasurer’s largest revenue source for the current-expense fund; the county’s portion is only a fraction of the total gross property tax billed to property owners. Commissioners asked staff to provide a breakdown showing the gross tax levy and the county’s share; Funk Baxter agreed to send the requested percentage and supporting sheet to the commissioners.
Details: Other revenue lines noted included fines and penalties ($300,000 budgeted, $52,250 received), goods and services ($217,006.50 budgeted, $40,778 received) and miscellaneous receipts driven by unclaimed-property receipts ($2,700,000 budgeted, $157,000 received) and investment income ($398,000 recorded during the month). On the expense side, personnel costs for the treasurer’s office are budgeted at $937,110; actual payroll recorded represented roughly two and a half months of salaries and benefits.
Unclaimed property and delinquent personal property: The treasurer’s staff explained the county’s unclaimed property receipts come partly from foreclosure excesses that are held for three years pending claim; unclaimed funds then revert to the general fund. Funk Baxter described the receipts as hard to budget because they depend on foreclosure timing and whether former owners claim the money.
On delinquent personal property used by businesses, the treasurer’s office reported progress: from 236 delinquent accounts in July 2024 they reduced the number substantially through cleanup and collection efforts. As of the report, “we are down at this time to only 7 delinquent personal property” accounts, Funk Baxter said, while noting that April 30 collections may raise that count again when late payments are processed.
Investments: The county’s pooled investment portfolio totaled about $411.7 million at the end of the first quarter, and the reported average yield on the portfolio was 4.59 percent. The county keeps a liquidity portion—about 30 percent—invested in the Washington State Local Government Investment Pool (LGIP), which was yielding about 4.38 percent at the time of the report. The treasurer’s office also described its practice of charging participants fees for investment services; those fees fund the investment-pool operating costs.
Operational notes: The treasurer’s office has 10 FTEs with no vacancies reported at the time of the meeting. Funk Baxter said she separated the chief deputy and investment deputy roles during the 2024–25 budget process to strengthen front-office capacity and foreclosure work.
What’s next: Commissioners requested a breakdown of the gross property tax levy and the county’s net share. The treasurer’s office said it would provide that breakdown to the commissioners.
