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Treasurer reports investment dip, ARPA spending update and new format for financial reports
Summary
Treasurer told the committee the county's investment pool assets fell by about $2 million last month and described recent large expenditures (insurance, capital projects, ARPA). Staff also introduced a streamlined financial report and said auditors are conducting follow-up work.
Boone County's treasurer reported to the finance committee on Jan. 15 that the county's investment pool is down by just over $2 million, attributing the movement to current market conditions and scheduled disbursements.
The treasurer said recent outflows included the county’s annual North Fund insurance payment (about $1.35 million), capital projects spending (about $376,000) and ARPA fund disbursements (about $354,000). He also noted a recent certificate of deposit purchase and renewal as rate conditions changed. Auditors were on site earlier in the week and are scheduled for additional follow-up visits.
Miss Tobin presented a new financial report format showing the current-year budget and two months of results, with an 83% threshold noted as a planning aid for tracking budget timing. Tobin said year‑over‑year comparisons can be added back if members want them, and that sales-tax receipts are strong in the first two months of the fiscal year.
On ARPA, staff reported the total available sum was discussed in the meeting as roughly $11 million (the transcript contains slightly inconsistent figures); staff said ARPA-related interest produced roughly $900,000 of spending over the past years for building projects. Committee members asked for comparative reports to prior year results for next meeting.
