Treasurer and finance committee flag budget pressures, maturing investments and levy options

Pam Johnson, Okanogan County treasurer, and finance staff presented the finance-committee update, including cash‑on‑hand figures, questions about opioid fund balances and maturing investments.

Pam Johnson reported current-expense cash on hand in July at about $5.7 million (as reported during the meeting) and reviewed details of the opioid fund accounting; staff and commissioners discussed apparent discrepancies between a line that read $600,000 and earlier balances of about $900,000 and referenced payout records including a roughly $332,002 payout that affected the balance. Finance staff said they would run a detailed revenue and expenditure report and email it to commissioners for clarification.

Johnson also described a set of LTC (long-term certificates) maturing in October 2025, 2026 and 2027 — each roughly $3,000,000 — and discussed whether to reinvest short-term, ladder maturities or move money into the state pool given changing interest-rate forecasts; staff noted a current quoted yield around 4.38% and that market forecasts expected rate declines in coming months.

Commissioners and staff discussed possible steps to address long-term road funding shortfalls. One commissioner described a hypothetical levy-lid lift of about $3.5 million as an example and said it could cost the average property owner roughly $400 a year on a $400,000 home; staff cautioned this figure was illustrative and would require voter approval and detailed modeling.

The finance committee agreed staff will provide updated detailed reports on opioid fund movements, cash-on-hand, and schedule for the maturing investments so commissioners can consider options during the upcoming budget cycle.