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County finance directors report portfolio earnings and sound fiscal reporting; investment return trails inflation
Summary
Finance reported $3.78 million in payables presented and payroll disbursements; the county’s investment portfolio earned $467,445.93 in May with a 3.55% monthly effective rate, but inflation (4.2% year over year) outpaced returns and reduced purchasing power; the finance department won a GFOA reporting award.
Finance Director Ryan Post presented the county’s accounts-payable claims list and payroll disbursement totals and thanked his staff for improvements in purchasing and accounts-payable operations.
Chief Deputy Treasurer Tyler White reported the county’s investment portfolio par and market values for May and said the portfolio earned $467,445.93 in May with an effective monthly rate of 3.55% and a year‑to‑date effective rate of 3.86%. White noted a mark‑to‑market variance between par and market values of roughly $667,713 and said the county’s strategy is to hold assets to maturity to avoid realized losses. He warned that a 12‑month inflation rate of 4.2% exceeded the monthly investment return, producing a net purchasing-power loss of about 0.65% for the period.
Post and White described details of the portfolio’s distribution of returns across county funds and presented the finance department’s organizational improvements. Post highlighted recent staffing, new accounts-payable operations and purchasing work that reduced processing delays. He also noted Kalamazoo County received a Government Finance Officers Association (GFOA) Certificate of Achievement for excellence in financial reporting for its 2024 annual comprehensive financial report.
Commissioners asked clarifying questions; no substantive changes to county policy or budget were proposed at the meeting.
