County staff discuss SB22 compliance report and whether to use special account or general fund

County staff and elected officials discussed how Mills County should complete a new compliance report tied to Senate Bill 22 and whether to place affected funds in a special account or leave them in the general fund.

The county treasurer (referred to as Summer in the meeting) told the court staff are still learning the new reporting requirements and that the controller's office had recommended establishing a special account. "They're working on that. I think it's something new," the treasurer said. Staff told commissioners the primary challenge is calculating interest attributable to specific funds when the county uses pooled general-fund cash for payroll and other draws.

County Attorney Bill Mullen and other staff noted the comptroller provides a compliance report template, but counties must supply details such as how much interest was earned and how interest should be reported when cash is pooled. One staff member said the controller's office had recommended a special account but that some counties have left the monies in the general fund and reported interest accordingly. Staff said they expect to begin work on the county's compliance submission after Nov. 1 and will coordinate with the treasurer and the county attorney.

No formal action was taken on the agenda item; commissioners accepted the briefing and advised staff to develop the numbers and potential options for subsequent consideration during the budget process.