Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Finance topic
No spam. Unsubscribe anytime.
Treasurer reports strong collections; committee approves tax- and property-related transmittals
Summary
Acting County Treasurer Megan Fralick reported roughly $776,000 in tax revenue collected last month, about $6.4 million in sales tax received, and $1.1 million in interest income for Q1; the committee approved multiple Treasurer transmittals including authorization to accept foreclosure auction terms and adopt a revised investment policy.
Acting County Treasurer Megan Fralick told the Finance Committee the county collected approximately $776,000 in tax revenue last month and received about $6.4 million in sales tax revenue during the previous month. She said the county generated approximately $1.1 million in interest income during the first quarter and that work has begun to prepare for next year’s foreclosure process.
Fralick also reported the county prepaid $1 million toward the loan for the Health Care Trust and requested, with committee support, that the Treasurer’s Office operate on an 8 a.m.–4 p.m. schedule during June, July and August. The committee authorized a series of Treasurer transmittals by voice vote or consent, including acceptance of terms and conditions for the Wayne County tax foreclosure auction; authorization to sell property to an adjacent landowner; contracting with Matthew St. Martin, Esq. for estate administration and guardianship proceedings; transfers of funds into the Treasurer’s budget; settlement of a tax assessment proceeding; release of an RFP for county capital asset inventory and insurance valuation services; and adoption of a revised county investment policy (all listed as approved 5-0 in the minutes).
The Treasurer’s report emphasized collections and liquidity management; the minutes do not indicate further debate on the foreclosure auction terms or the investment policy during the meeting.
