Supervisors press director on how referendum and interest earnings would be handled if county sells the health care center

A public commenter and multiple supervisors pressed county finance staff for clarity about how referendum funds and interest earnings tied to the Portage County Health Care Center would be treated if the county sells the facility.

Public commenter Dan Stokes asked, "Will the sale of the health care center lower my health insurance premiums, or ... raise our health insurance premiums?" Supervisors later raised related questions about whether referendum dollars and accrued interest are separated and whether interest earnings on the referendum balance have been tracked for the center. Supervisor Moreci said she was concerned about accountability and asked how interest earnings would be distinguished for projects funded by referendum dollars.

The finance director (Jossy) explained the county pools its cash and currently records interest income in the county’s general fund rather than allocating interest to departments. "We currently don't" separate interest earnings by department, he said. On whether referendum dollars would be returned to taxpayers or absorbed by the general fund if a sale occurred, the director said, "the best answer I can give you is I don't know, because we haven't had that conversation yet," and he said staff would consult the Wisconsin Department of Revenue and other necessary parties and report back. He also said that if a sale negated the legal purpose for levying a referendum, the referendum levy would not continue.

Ending: The director committed to researching the accounting and statutory treatment and said he would aim to provide answers before any vote on a sale.