County finance report: investments earn modest interest; retiree insurance costs to rise

The county's finance officer presented an updated financial report showing year‑to‑date general fund revenue of $11,994,362.13 (about 50% of the approved general fund budget) and year‑to‑date expenditures of $10,679,199.01 (about 45% of the budget). The CFO reported combined bank balances and recent investment moves into the North Carolina Capital Management Trust, which yielded small interest gains for the general fund and the transfer facility accounts.

On the local sales option tax, the officer reported July–September receipts of $394,568.07 for the year compared with $380,123.48 last year. The CFO said she will separate interest earnings on future monthly reports to make investment returns clearer.

Staff also proposed several budget amendments during general business: a $1,000 Walmart grant acceptance for the sheriff's fundraising event, use of unappropriated fund balance to cover chamber benefit adjustments, a $6,050 recognition and budgeting of unrestricted donations to DSS, and a budget amendment to cover increases in post‑65 retiree insurance costs. The retiree insurance was estimated to increase by $80.91 per member per month; staff estimated 33 retirees would cost roughly $102,960 for 2026, and proposed covering the near‑term impact with additional ad valorem tax revenue while the board considers next year’s budget planning.

The board voted to approve the presented amendments and to accept investment reports; commissioners commended staff for the clearer department‑level breakdowns in the report.