Finance director presents fund and budget updates; committee punts nonunion raise guidance

Finance staff presented fund status and budget guidance on June 10 and the Finance and TIF Committee voted to place the finance report on file while delaying a decision on nonunion salary increases.

Stephanie, a finance department staff member, reviewed reports including an ‘‘unrealized loss’’ on investments tied to the county’s Charles Schwab accounts. She explained that under GAAP the county must report current market value for investments and book unrealized gains or losses; the report showed an unrealized loss line of $39,002.92 in the general fund. Stephanie said the line fluctuates month to month and that the county budgets for such investment volatility.

Committee members discussed payroll guidance for the 2026 budget. Stephanie said she needed a figure for nonunion raises to finalize payroll projections. Committee members declined to set a percentage at the meeting and directed department heads to prepare budgets with current salaries only; the committee said salary decisions would be handled later in the budget process and by salary and labor negotiations.

Committee members also discussed the insurance trust budget and claims lines. Staff said the trust historically carries similar claim‑funding lines year to year and that a final reinsurance premium figure is usually not available until November.

Stephanie said she would correct a posting error that had shown large overtime in the public defender account; she attributed the incorrect entry to a grant posting and said she would move it to the proper line. The committee voted to place Stephanie’s report on file; the motion carried on a voice vote.