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Treasure County sets aside land-sale proceeds; commissioners direct creation of special revenue fund
Summary
Commissioners accepted the county’s recent land-sale closing and directed staff to set the proceeds into a tracked special revenue fund so interest can be handled transparently; the board asked staff to return with the exact resolution language and accounting setup.
Marley, speaking for the board, opened discussion on how to handle the county’s land-sale proceeds, saying, “I had on the agenda to talk about where we're gonna put the land sale money.” The board debated short- and long-term options including STIP-style investments, a standing “permanent” fund, and whether to use only earnings to cover expenses such as rising insurance costs.
County treasurer Julie Pinkerton and a remote finance advisor, Nancy Everson, walked the commission through options for accounting and investment. Everson recommended creating a dedicated special revenue fund and leaving the principal intact while using the interest earnings to help county operations: “If that's the case, I would set it up somewhere as a special revenue fund,” she said, explaining the fund would be tracked separately from levy or federal/state-restricted funds and could be invested so interest is measurable and sweepable into budget lines at year end.
Commissioners asked staff to prepare a formal resolution to create the fund, specify initial account numbers and whether interest earnings should be swept annually to the general fund or kept in the fund to compound. The board confirmed it will report the deposit as unanticipated revenue and, unless directed otherwise, plan to allocate interest at budget time.
The board separately approved resolution 2026-020 to accept the county’s previously negotiated property sale and to authorize signing and closing steps. The resolution designates Marla Moore (title/closing designee named in the resolution) to sign the warranty deed and closing paperwork.
Next steps: staff will draft the fund-creation resolution with language capturing the board’s preference to track principal separately, set up a special-revenue account for the sale proceeds, and return the proposed resolution and account codes for formal adoption and bookkeeping setup.
Provenance: The topic was introduced in the opening agenda item (“where we're gonna put the land sale money”) and discussed in depth with treasurer and a finance advisor (see segments where Nancy Everson explained special revenue fund setup).
