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Staff flag negative interest entries, local sales‑tax posting questions and millings reimbursements for follow‑up
Summary
County finance staff identified unexplained negative interest-on-investment line items, uncertainty about local sales‑tax postings, and questions about whether millings proceeds were posted to the highway/materials funds; staff will consult the treasurer and provide corrected journal entries.
During the revenue‑report review, staff identified several anomalies that require follow-up with the county treasurer, including negative interest‑income entries and unclear postings for local sales tax and millings reimbursements.
Staff said interest on investments showed a negative $144,516 in February and a negative $23,081.37 in March on certain lines, and that the treasurer should clarify why the report presents those negative month amounts while year‑to‑date interest remains positive. Staff also noted that local sales tax is kept in a separate fund and that some revenues (for example, millings) may belong in a special‑highway/materials fund and should be treated as reimbursements when appropriate. “I would have to find out from the treasurer why we were negative a $144,516 in the month of February in interest income,” staff said. The commission asked staff to get these clarifications and bring corrected reports before the next meeting.
