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County approves supplemental budget, road-agency budget and insurance renewal; finance director reports accounting fix
Summary
At its June 16 meeting Jefferson County Commissioners approved a supplemental budget covering a range of departmental adjustments, adopted the Jefferson County Road Agency budget and renewed county insurance; Finance staff also reported correcting an interest reporting error affecting prior fiscal months.
The Jefferson County Board of Commissioners approved several finance and administrative items June 16, including a supplemental budget for fiscal-year 2024–25, adoption of the Jefferson County Road Agency budget for fiscal-year 2025–26 and renewal of the county insurance package.
Finance Director Gabriel (Gabe) Solis presented a monthly financial review and described an accounting adjustment involving an interest-credit item reported to taxing districts in error. Solis said interest earnings were not materially down — “Interest earnings actually went up by 1%” — but prior practice had resulted in roughly $4,000–$6,000 a month of LGIP interest being turned over to taxing districts incorrectly. He said he reconciled transactions back to February 2020, corrected the posting for the current fiscal year and updated standard operating procedures.
Solis also presented collection metrics and a revised spreadsheet that shows current-year property-tax collection at about 96.8% for the fiscal year to date.
On formal actions, the board unanimously approved the supplemental budget resolution to accept revenue and change appropriations for FY 2024–25; adopted the Jefferson County Road Agency budget for FY 2025–26 (with appropriations tied to the SRS allocation if it is confirmed); and voted to approve the county’s insurance renewal package as presented. Commissioners asked staff to return with the flood-policy renewal values when the flood-rate update is finalized.
Insurance-broker Mary Kay Williams reviewed the county’s property, liability, cyber and workers’ compensation coverage and noted the major premium change was driven by a payroll exposure increase used to calculate workers’-comp premiums. Williams said the county’s safety/mod factor had improved and that CIS (the pool) continues to set core limits; the county carried separate cyber coverage and flood placements for properties within the floodplain.
The board recessed into executive session at the end of the public agenda.
