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Lewis County OKs ordinance allowing treasurer to retain interest in general fund
Summary
The county adopted Ordinance 1374 to update code sections governing lodging, mental-health and noxious-weed funds so interest earned on invested balances may be retained in the general fund under the finance committee’s investment policy, staff said.
The Lewis County Board of Commissioners voted March 24 to adopt Ordinance 1374, which updates county code to allow the treasurer to invest certain county funds and retain interest in the general fund under the county’s investment policy.
Becky Butler, budget and risk director, told commissioners the ordinance would update county code chapters 3.15, 3.45 and 3.55 to provide “greater flexibility regarding interest earned within the lodging tax, mental health tax, and noxious weed funds.” She said the finance committee and prosecutor determined there are no RCW restrictions preventing interest earned on those funds from being retained under the general fund investment approach.
The board opened a staff Q&A period, incorporated Butler’s prepared statements into the hearing record at her request, and received no public testimony. A commissioner moved to adopt the ordinance, a second was given, and the motion passed by voice vote.
The ordinance changes how interest is handled when the county’s legislative authority directs investments: interest earned on invested county funds would remain in the general fund and be managed according to the finance committee’s policy, rather than automatically staying in the original fund, according to the staff report.
The board recorded the approval by voice vote; commissioners registered “Aye.”
