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Morrow County consortium adopts FY2026 budget; trustees seek clarity on Crest funds and auditing rules
Summary
The Clean Water Consortium approved its FY2026 budget, clarified that a recent $400,000 Crest-2 disbursement is unrestricted, and authorized staff to file required audit reports with the Oregon Secretary of State; trustees requested updated award letters and more detailed funding documentation.
The Clean Water Consortium voted to adopt its fiscal year 2026 budget and approved administrative steps needed to meet state audit filing requirements.
During financial review, staff highlighted a first-pass revenue and expense report and discussed recent disbursements from local Crest distributions. Board members asked staff to obtain written confirmation about whether portions of recent disbursements are restricted for capital use or are unrestricted operating funds. Kevin reported the consortium had received a Crest-2 check the board believes to be $400,000 and described differences in restrictions across Crest distributions; the board asked staff to secure updated award letters clarifying intended uses.
On auditing, staff said the Oregon Secretary of State Audits Division requires a "financial report in lieu of audit" for the coming fiscal year when expenditures fall below a $250,000 threshold. The board moved to approve the FY2025 audit report, authorized the chair to sign, and directed the county fiscal agent to file the report with the Secretary of State.
Trustees also discussed investing consortium funds. Staff explained two options: leave funds in the state Local Government Investment Pool (LGIP) or authorize the county treasurer to include consortium funds in the county-managed investment portfolio overseen by Government Portfolio Analysts (GPA). Kevin said the county portfolio historically produces higher returns and cited approximate recent rates around 5.2–5.3 percent. Board members asked for clearer resolution language and asked that the options be returned with precise wording and, if helpful, a short presentation by GPA before a binding decision.
Separately, the board approved Resolution 2026-02 authorizing the board chair to approve the managing director’s invoices and reimbursable expenses up to the procurement limits in the consortium’s fiscal policy.
The FY2026 budget was approved by voice vote. Board members instructed staff to return with updated funding letters and any necessary budget amendments if additional restricted or unrestricted revenues are identified.
