Council accepts monthly financial and quarterly investment reports

Hermiston City Council accepted the September 2025 monthly financial report and the city's quarterly investment report for the period ending Sept. 30, 2025.

Director Palacios reported that the general fund was roughly 25% through the fiscal year. He said monthly revenues trailed projection by about $401,000, largely because of building-fee timing and grant revenue shifts, while monthly expenses were approximately $1.8 million over projection due to transfers and seasonal costs. Palacios said the city remains at its minimum general-fund balance and current projections show an estimated buffer of about $300,000 versus an earlier projection that had shown a potential shortfall.

On investments, Palacios said total holdings were about $30 million; $4,680,000 was deposited to the Local Government Investment Pool (LGIP) this quarter and $1,500,000 was moved from the LGIP to fund ongoing capital projects, including police department hangar and library work. Interest earnings for the quarter were reported at about $311,000 (average ~1.5%). Councilors asked about the city's investment adviser relationship and handling of bond maturities; Palacios said maturities and investment type govern whether to sell or reinvest funds.

Both reports were accepted by unanimous roll call.