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Stevens County finance staff reports strong investment returns, flags overtime and insurance as budget pressures
Summary
County staff reported above‑average investment earnings and a multi‑year laddered portfolio, while identifying overtime for deputies and rising insurance premiums as items to watch in the 2026 budget process.
County finance staff gave a midyear budget update highlighting strong investment returns that have bolstered county finances, and identified several cost pressures the board will examine during the 2026 budget process.
Becky (county financial staff) summarized second-quarter results: year‑to‑date revenue and expense percentages were within expected ranges given timing of state aids and prepaid items. Staff noted large unrealized gains from laddered longer-term investments; one longer-term instrument was described in meeting remarks as earning roughly 5.6% and locked for a seven-year call period, and the county reported the larger investment pool at ‘‘a little over $15,000,000’’ (remarks as spoken). The county also reported an attractive sweep account rate at Bremer (noted as about 4.2%). Finance staff said they maintain laddered certificates so funds mature monthly and can be redeployed to meet cash-flow needs.
Budget pressures identified included: administrative court costs driven by mental-health commitments; overtime and premium pay for deputy sheriffs (the deputies’ overtime/wages line was noted at about 58% of budget year to date); and higher property-insurance assessments and workers’-comp adjustments that increased insurance/bond costs above initial projections.
Staff noted the county will discuss some of these items, including targeted increases for 2026, at an upcoming July 28 budget work session. No formal action was requested at the meeting; the report was informational.
Why it matters: Strong investment returns can provide one-time budget flexibility, but persistent pressures on overtime and insurance may require policy or levy-level decisions during the next budget cycle.
Provenance: The midyear budget presentation and discussion ran in the county-staff report portion of the meeting; staff offered detailed line‑item observations and projected items for the July 28 budget session.
