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Lake County approves updated investment policy; treasurer warns of lower revenue and energy-driven budget pressure
Summary
Treasurer Melanie Lasley won approval for an updated 2025 investment policy that extends the maturity waiting period to 2.5 years. Lasley warned that revenues are lower than expected, personnel costs and union negotiations may strain budgets, and upcoming large energy users could stress the local grid.
Treasurer Melanie Lasley presented an updated 2025 investment policy at the March 4, 2025 Lake County work session and highlighted a specific change to the maturity waiting period on page 13. Lasley said the change added a half year "which would change it to 2.5 years," giving the treasurer more flexibility when transferring funds. Commissioner James Williams moved to approve the policy; Vice-Chair Barry Shullanberger seconded. The motion carried on a 2-0 vote.
Lasley told the board that revenues were coming in lower than anticipated, with permit revenues weak but expected to improve as weather changes. She said energy prices were up and that the county could face difficult choices in the next budget cycle; she recommended reviewing the County business loan policy and possibly moving loan funds into the General Fund. Lasley also noted personnel costs were elevated and that union negotiations could create further pressure for the Sheriff's Office budget.
Commissioner Williams added broader context on regional and economic items: mental health services had resolved a funds distribution issue, interviews for a Regional Solutions Coordinator were being held in Bend with five finalists but no applicants from Lake County, and the Community Renewable Energy Association (CREA) was tracking roughly 30 bills at the Oregon Legislature focused on accountability and rate calculations for energy producers.
Williams said Green Cement would be coming online in the next month and that operating at full power "would stress the available energy grid," and he expected PacifiCorp might push back toward the project. He also thanked Oregon Department of Fish and Wildlife, U.S. Fish and Wildlife Service, and the Department of the Interior for assistance on a recent wolf depredation matter.
The board did not take additional budget actions during the session; the remarks frame potential items for the upcoming budget cycle and follow-up by county staff.
