Treasurer reports $33.5M cash, outlines REM process and roughly $450K REM exposure

Treasurer Erin reported the county's cash position at the end of June totaled $33,506,162.82 and walked committee members through the month's cash-flow, receipts and sales-tax results.

"The first page you'll see is just the balances that we have at the end of June. That totals $33,506,162.82," Erin said. She later reported sales-tax receipts of $263,687.07 and described delinquent-payments of $44,006.20 along with a delinquent-tax balance of roughly $774,002.99 for outstanding accounts.

Committee members asked about an REM (real-estate mortgage/process) list that includes a large account the treasurer estimated at about $400,000. Erin said the corporation counsel has the paperwork and she expects the process — including filing in court and arranging sales where necessary — could be wrapped up by the end of the year. She noted interest is applied to recoveries and confirmed that excess proceeds from any sale would be returned to the homeowner after expenses.

The treasurer also discussed other recurring expenditures and one-time line items on the bill summary, including landfill license renewals, vehicle and equipment purchases, and insurance proceeds used to replace a hail-damaged human-services van. Committee members sought explanation of deposits, reconciliation timing and how recovered delinquent-tax receipts are handled in the accounting system.

Why it matters: The report provides a snapshot of county liquidity, near-term recoveries from delinquent-tax activity and operational bills that influence available fund balances and the county's ability to finance projects.