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Finance director: sales tax up, ambulance billing hiccups and investment movement
Summary
Finance staff reported June sales tax tracking about 8% above last year, overall funds roughly 50% through the fiscal year, ambulance revenues down to ~36% after a billing software change (341 claims must be resubmitted), and a CD matured with proceeds reflected in June; opioid and LATCF/ARPA funds remain designated for future spend-down.
The county's finance director presented June financials, noting sales tax collections are tracking to finish a little above 8% ahead of last year and the general fund is roughly at 50% of expected revenues and expenses for the fiscal year.
"June was another good month for us...looking to finish a little above 8% on last year," the finance director said, and explained some timing differences between reports due to when a June sales tax payment was received relative to the report run date.
The director flagged ambulance revenues as an operational issue: ambulance fees are down to about 36% after the county switched software, which created processing delays. "We had 341 claims that had to be resubmitted to the billing company to go through that process," he said; staff expect revenues to recover as claims are processed.
Other department notes: the medical examiner's revenues and expenses can be volatile (currently 37% revenues, 22% expenses), emergency management grants are reimbursed after year-end when expenses are compiled (expenses ~45%), and general-government accounts show some line items at 100% due to annual payments made early in the fiscal year.
The finance director also reported an investment update: a certificate of deposit matured in May with proceeds recognized in June and a new CD was opened per prior board approval. Board members asked about two long-standing opioid awards; staff said opioid funds typically have a 20-year spend-down and budget proposals are being used to accelerate disbursement where feasible. The board noted the LATCF/ARPA-style funds remain undesignated as a rainy-day reserve.
