Harrison County reports strong investment earnings, auditor warns about delayed grant payment

Harrison County officials on Nov. 5 reviewed September 2024 financial reports and highlighted unusually strong investment earnings for the fiscal year while flagging a potentially large outstanding grant payment.

The county auditor presented unaudited, unadjusted September financials, reporting a fund balance of $4,552,741 and noting that "there is one fund that has a negative balance" related to the County Grant fund because a confinement grant payment has not been received. The auditor said "there's about 98 to $900,000 that is still outstanding" and warned that if the payment does not arrive by the end of November it will post to FY25 and leave the fund with a significant negative balance.

Treasurer M. Rushy gave the county's monthly and investment reports, detailing balances across Texas Class and bank-managed portfolios and reporting substantial interest income for the year. The treasurer said the county's investment performance "equates to about two cents of tax rate," a point commissioners welcomed as evidence of conservative revenue management.

Officials also discussed drivers of year-to-date revenue and expense changes: increased tax receipts, a large payment related to a Motorola public-safety contract and SB22 funds affecting public-safety spending. Commissioners asked staff to continue working invoices through the next Commissioner's Court to minimize the need for FY24 budget amendments if outstanding invoices roll into FY25.

The court approved posting the treasurer's monthly report to the county website as required by law and requested continued monitoring of the outstanding grant payment and any resulting budget impacts.