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County finance director reports steady revenues, claims push self‑insured health expenses above mid‑year forecast
Summary
Finance staff presented the county’s second-quarter fiscal update showing generally steady revenues with timing-driven variances, large investment returns in the treasurer’s fund, and higher-than-expected self-insured health claims; no formal board action was taken.
A county finance staff member presented Chippewa County’s financial update for the first six months of 2024 at the Sept. 10 board meeting, summarizing general fund, special revenue, debt and internal service fund results and explaining timing-driven variances.
The presenter said the board should watch revenue collections below 50% and expense lines above 50% for the half-year report. Notable points included higher-than-expected interest income in the treasurer’s accounts tied to June interest rates, and an 86.2% year-to-date spending rate in the county clerk’s budget attributable to an annual library allocation of $953,000 paid early in the year.
Special funds and other details - Special revenue funds such as public health, ADRC and human services were described as typically a month behind on reimbursements. - Sales-tax receipts were described as “doing pretty decent” with a two-month lag in reporting (June receipts reflect April activity). - Opioid-abatement accounts were being tracked with receipts and approved project expenses shown in the financial report. - ARPA funds were reported as holding interest income in the state investment pool; year-to-date ARPA spending for 2024 was limited to draws related to approved uses.
Internal service funds and risk The presenter highlighted a shortfall in self-funded health insurance: revenues were roughly on target for half the year but expenses were running at about 63.5% year to date because of several large claims. Self-funded liability insurance allocations are recognized annually, which makes year-to-date revenue appear low while some liability expenses are paid up front.
Debt and capital The presenter noted annual debt-service payments and said the county had no capital project funds in use in 2024. Later in the meeting the board considered a separate resolution to award $3.5 million in general obligation promissory notes (that resolution passed; see Votes at a glance).
Ending The finance staff encouraged board members to review the packet for department-level detail and to contact the finance office with questions; no county action was required on the financial update itself.
