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Wasco County adopts FY2026–27 budget and opens access to new state intermediate fund
Summary
The Wasco County Board unanimously adopted the FY2026–27 budget (Resolution 26‑009), and approved an amended investment policy to permit participation in the Oregon Local Government Intermediate Fund to seek higher yields; Finance Director reported county finances as strong with investments returning 3.84% YTD.
Wasco County Finance Director Mike Middleton presented the county’s FY2026–27 adopted budget and a proposed amendment to the county investment policy to allow participation in the Oregon Local Government Intermediate Fund.
Middleton told commissioners the county’s financial position was stable at the 11th month of FY26, with general fund investment earnings at 105.6% of budget and overall portfolio returns at 122.9% of the planned target, yielding about 3.84% of the county cash balances year‑to‑date. “As of May 31, 2026…the county’s financial health remains strong, with all funds operating securely within their legal levels of control against a 91.7% straight‑line benchmark,” Middleton said.
On the investment policy change, Middleton presented proposed edits requested by the Oregon Short Term Fund Board to permit participation in the Local Government Intermediate Fund (OLGIF), and several technical clarifications around issuer limits and dealer/adviser documentation. The Board approved the amended investment policy and adopted the FY2026–27 budget in a single unanimous vote (Resolution 26‑009).
The budget action included transfers set by the Board, adoption of the tax levy and FY2026–27 appropriations; Middleton noted that one large inflow in the current period was Google Strategic Investment Program proceeds, which had boosted county project fund balances earlier in the fiscal year.
The Board approved the budget and policy updates on a motion by Commissioner Jeffrey L. Justesen, seconded by Chair Scott C. Hege; both votes were unanimous.
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