Treasurer and finance officers report October finances, cite timing effects and delayed federal data

Deschutes County's treasurer and finance team presented the October financial update to the Board of Commissioners on Nov. 24, highlighting short‑term timing effects and broader economic uncertainty caused by delayed federal data.

Bill, the county treasurer, said the portfolio balance at month end was roughly $369.4 million, driven primarily by the timing of tax receipts including a large $63 million tax turnover processed Nov. 3. He said net investment earnings were higher month‑over‑month, but LGIP and bank rates had begun to trend down in mid‑November. The treasurer also noted national effects from the recent federal continuing resolution—delayed CPI and PPI releases and the extended shutdown—as complicating short‑term economic analysis.

Robert Tinto, chief financial officer, reviewed the October financial statements (33% through the fiscal year) and highlighted fund‑level items: beginning general fund balance reported at about $23.2 million, modest revenue variances tied to assessed value and PILP receipts, a small decrease in FTEs (2.75 FTE reduction in October), and projections for several funds including TLT/transient lodging tax receipts coming in higher year‑to‑date.

The finance team said a limited number of projections will be trued up at the December meeting when prior fiscal‑year final numbers are available, and discussed administrative costs tied to the new certificate of authority fee. Commissioners asked about investment maturities and contingency planning; staff said they are managing a mix of short‑ and medium‑term investments and maintaining liquidity for operations.

No formal board action was taken on the financial reports; staff will return with finalized numbers and proposed true‑ups in December.