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Treasurer reports $17.03M ending balance, explains $2.75M year-over-year decline tied to ARPA spending
Summary
Treasurer Jeff Garrett told the Board the county's Treasurer balances totaled $17,027,006.72 as of June 30, 2026, down $2,750,402.63 from a year earlier largely due to ARPA spending and a smaller rural services fund; Garrett also reviewed the annual investment report noting a weighted average yield at maturity of 4.409%.
Treasurer Jeff Garrett presented the Washington County Semi-Annual Statement of Accounts for Jan.1–June 30, 2026 and the Treasurer's Annual Investment Report at the July 21 Board meeting.
Garrett reported beginning balances of $17,788,406.45, total revenue of $42,982,774.11, total expenses of $44,417,729.72, and ending Treasurer balances totaling $17,027,006.72; Auditor balances totaled $16,213,529.29. He said the county's current balance is $2,750,402.63 less than a year ago, which he attributed mainly to spending remaining ARPA funds and a decrease in the rural services fund. Garrett also noted the general fund is $745,581 ahead of last year.
On the investment side, Garrett summarized that county investment activity follows three priorities — safety of principal, liquidity, and reasonable return — and said allowable instruments include interest-bearing savings and checking accounts, money market accounts, certificates of deposit, obligations of the U.S. government and the Iowa Public Agency Investment Trust. He noted the weighted average rate of investment at maturity was 4.409% compared to 3.995% at purchase. The Board reviewed the report and made no recommendations for amendments; the full reports are available in the Treasurer's office.
