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Board carries over $9 million, including $6 million allocated to NextGen Housing; supervisors ask for investment accounting
Summary
County staff presented a $9 million carryover resolution—largely funding the NextGen Housing program—and explained that a prior ARPA 'swap' means some funds are not required to be spent this year; supervisors asked for a detailed investment report from PMA and a reconciliation of NextGen revolving funds.
Aaron Dahl presented the board with the annual carryover resolution to move unspent grant and project funds into the next fiscal year, reporting roughly $9,000,000 in carryover authority, most of which is tied to the NextGen Housing program and Brownfields RLF.
Dahl said the NextGen Housing allocation includes about $6,000,000 that was originally budgeted for the program. "That's essentially the original allocation of funds into the NextGen Housing program," Dahl said, adding that some NextGen dollars revolve back into the fund each time a NextGen house is sold.
Supervisors pressed staff for detail about how the funds are being invested and whether ARPA spending deadlines apply. Dahl explained the county used an ARPA swap mechanism when the program was established that changes how the timing of federal spending rules applies. He said the county pools assets with an outside manager, PMA, and that investments are laddered in accordance with statutes; specific line‑item investment details were not provided at the meeting.
Board members requested a future presentation from PMA and an accounting of how much NextGen activity has returned funds to the program. "I'd like an accounting coming back to this group as to these are the things where we've invested money," said Supervisor Merrick, urging transparency to the public about how county funds are being managed.
The board approved the carryover resolution by voice vote (two‑thirds required); staff said more detailed reporting on NextGen flows and the investment pool will be scheduled.
