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Grant County hears FY27 budget preview and investment update; treasurer outlines tax-collection performance
Summary
County officials reviewed a preliminary FY27 budget with deadlines, a $30,000 community support line, and a new GL for juvenile prisoner housing. Treasurer reported long-term tax-collection rates (~92.24%) and Morton Capital said the county portfolio yields just over 4% with about $230,000 expected cash flow next 12 months.
Grant County commissioners on April 23 received a preliminary FY27 budget briefing and an investment-portfolio update from Treasurer Khan and a representative of Morton Capital Markets.
Deputy County Manager Andrea told the board the county plans a final budget adoption schedule (work session May 12; preliminary adoption May 14; final due to the Department of Finance and Administration May 30). She said most department heads requested flat budgets, staff added a $30,000 community support line for "Corey Cantas," and created a new general-ledger account to separate juvenile prisoner housing costs from adult detention expenses. Andrea said property-tax forecasts remain under review with the assessor's office.
Treasurer Khan summarized the county's decade-long tax-maintenance report, saying roughly $132.9 million was charged from 2016 through 2025 with about $122.6 million collected and a historical collection rate of "92.24%." He also reported about $10.3 million in uncollected taxes across the period and said his office will mail 360 delinquent-property postcards for potential auction, estimating $375,862.51 at stake if those amounts remain unpaid.
Larry Lumbberg, a representative of Morton Capital Markets, briefed the board on the county'9s investment portfolio. He said roughly 88% of the portfolio is in FDIC-insured certificates of deposit and the remainder in U.S. government agencies; the portfolio's yield-to-maturity was "just over 4%," and expected cash flow for the next 12 months was about $230,000. Lumbberg described recent market volatility tied to geopolitical events and explained that reported month-to-month mark-to-market changes are "paper gains and paper losses" that resolve at maturity unless securities are sold.
During Q&A, commissioners asked for department-level fuel-cost increases, clarification on reported changes in market value, how investment gains are recorded in county accounts, and whether invested funds are exclusively property-tax revenues. Treasurer Khan said the county invests primarily property-tax receipts and keeps investment accounting separate so gains are tracked by portfolio. He and Lumbberg described procedures for generating liquidity if cash is needed quickly and reiterated that mark-to-market fluctuations do not necessarily represent realized gains or losses.
The board approved RFP 26-04 for emergency shelter and emergency operations center generators during the meeting.
