Loading...
HomeMy WebLinkAbout042726MS Joint Finance 4 1SHING' MINUTES Special Meeting — April 27, 2026, 3:00 p.m. Jefferson County Board of Commissioners and Jefferson County Finance Committee Courthouse, Commissioners' Chambers 1820 Jefferson Street,Port Townsend, WA(HYBRID) CALL TO ORDER: Chair Brotherton called the Special Board of County Commissioners (BOCC) meeting to order in the presence of Commissioner Heidi Eisenhour and Commissioner Heather Dudley- Nollette. The purpose of the Special Meeting was to allow the Commissioners to meet with the Finance Committee, and provide comments when necessary. All action taken at the meeting was done by Finance Committee (FC) members. Finance Committee Chair Stacie Prada called the Finance Committee meeting to order at the appointed time. PUBLIC COMMENT PERIOD: FC Chair Prada opened the floor for public comments, and no comments were received. FC members then approved their agenda. APPROVAL OF MINUTES: FC members moved to approve the February 2, 2026 minutes as presented. DISCUSSION re: Treasurer's Report 1st Quarter 2026 covering county and district debt & investments: FC Chair Prada reviewed the Treasurer's report with the Board which provided an overview of County investments, noting that most funds are invested in the State investment pool with a current rate of about 3.71%, and that nearly all available cash is invested except what is needed for daily operations. The County currently holds about$183 million in investments, with$178 million in the state pool, and is evaluating future strategies such as longer-term investments or separately managed funds. DISCUSSION re: County debt, capital planning and JeffCom expansion funding options: FC Chair Prada reviewed the report with the Board and discussed potential financing options for expanding the JeffCom communications facility. Since Jeffcom cannot independently issue bonds, the County could sponsor debt backed by its property tax authority. Preliminary estimates suggest a smaller expansion could cost$1.5-2 million,with the state's local government bond program identified as a cost-effective financing option, while larger facility plans may require broader coordination and inclusion in the County's capital improvement plan. The discussion also explored aligning JeffCom needs with a potential future law and justice facility to maximize funding opportunities, though no decisions were made and further planning and analysis are needed. FUTURE AGENDA ITEMS: Not discussed. 1 Joint BOCC Special Meeting/Finance Committee Meeting: April 27, 2026 NOTICE OF ADJOURNMENT: Chair Brotherton adjourned the Special Meeting of the Board of County Commissioners at 3:54 p.m. until the next regular meeting or special meeting as properly noticed. JEFFERSON COUNTY ,,.�``,�F,,,,,y,,,,,,, B e—.'.P 0 QMIyIISSIONERS ••'' MIS••' CD% SEAL: `�„ ••� S/o2m:�',_ �� -4611W • `��44 0 , . ��' eg•4`.;he on, Chair oit, ATTEST: ,,,,,,,,,,,,,,,,,,, art ley- ollette, ember ,,,,,,gt ,,,,sL Caroly allaway, CMC © idi Eisenhour, Member Clerk o e Board 2