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Treasurer reports lower first-quarter interest earnings as rates dip
Summary
Treasurer Kelly Gray reported first-quarter investment activity and said interest earnings are down from last year (examples given: 4.45% last year vs. 3.75% this year); commissioners asked questions about specific fund balances and the uses of certain accounts.
Kelly Gray, the county treasurer, presented the first-quarter investment movement and interest paid out during the board meeting.
Gray said interest earned in the first quarter is lower than the same period last year because market interest rates have come down: "Last year, this time, it was 4.45. Now it's 3.75." She provided department-level balances and said that if fund balances decline, earned interest will decline proportionally. Commissioners asked about specific funds including a "hillside replacement" account and whether ditch maintenance receipts were reflected in the report; Gray noted some funds are not grouped the same way and offered to clarify balances in the next report.
The treasurer's presentation closed with staff offering to provide a clearer rate schedule and a departmental breakdown in the next update.
No formal action was taken on the investment report; commissioners thanked the treasurer for the update.
