Treasurer reports July tax distributions, $9M invested and short-term placements at 4%+ yields

The county treasurer reported on July 14 that the first installment tax distribution had generated roughly $53.6 million in collections and that the county’s invested-fund portfolio totaled about $9 million in short-term instruments. The treasurer told the board they placed $2.4 million in short-term investments at about 4.15% and planned another $2.6 million at about 4.17%. “Today, Steve, we have collected $53,600,000,” the Treasurer (unnamed) told the board, and noted the first distribution to districts had been about $49,992,000, roughly 54.87% of the original extension. He said that, for the county as a single district, the county received about 54.91% of its extension in the first distribution. Why it matters: those distributions support general-fund spending and departmental budgets; the treasurer advised that next distributions are scheduled quickly and that tax receipts will affect monthly cash reports. The treasurer also highlighted operational issues affecting collections, including delayed mail delivery and a higher-than-usual number of returned NSF checks. Details and discussion: the treasurer summarized that 10 investments matured last month and yielded nearly $37,000 in interest across six bonds. The treasurer said short-term rates remain favorable and that he is placing funds into CDs and short-term instruments where possible. He also reported operational challenges: mail delivery delays that affect postmarks and nine returned NSF checks in a recent week, one check for $99,000 and another for $49,000, which temporarily caused a negative collection day. Board questions focused on timing and on how tax receipts will affect upcoming budget reports. The treasurer said the next distribution is approaching on Aug. 11 and that mobile-home tax bills for park units will be due on Oct. 31. Less critical detail: the treasurer walked through color-coded pages in the financial packet and said adjusted-cash figures provide a clearer picture of fund positions when seasonal revenues are thin.