HomeMy WebLinkAbout2021-04-27 Finance Committee Minutes - DRAFT JEFFERSON COUNTY FINANCE COMMITTEE April 27, 2021 Minutes
FIRST QUARTER 2021
The meeting was called to order at 8:32 a.m. Present were:
Stacie Prada, Treasurer
Rose Ann Carroll, Auditor
Kate Dean, Chair of Board of County Commissioners
Philip Morley, County Administrator
Mark McCauley, Central Services Director
Approval of January 26, 2021 minutes. Kate moved to approve the minutes as presented. Rose
Ann seconded. Motion approved.
OLD BUSINESS:
No old business.
NEW BUSINESS:
Quarterly Reports 4th Quarter 2020
Stacie presented the following reports:
Investment and Debt Reports
• Investments by District 3/31/2021, Total amount is $143,670,933.58. Overall investments amount
is down $900,000 from last quarter and up $31.5 million from this time last year. Treasurer’s Cash
is down $2 million from last quarter and up $5 million from this time last year. Within Treasurer’s
Cash, the General Fund cash balance is $7.2 million and which is $930,000 more than this
month last year.
• Total Investments by Bank 3/31/2021, the State Investment Pool amount of $143.7 million
includes Treasurer’s Cash of $20.45 million. General Fund cash balance on 9/30/2020 was $7.2
million, and the rest is comprised of ending fund balance of both county and special purpose
district funds not invested on their behalf.
• Investment Summary 3/31/2021. 81% of all county and special district investments are held in
the state investment pool, 11% in CDs, 7% in Public Interest Checking and 1% in US Agency
securities. For Treasurer’s Cash, the portion held in the LGIP is 45%, 30% in CDs, 23% in public
interest checking and 2% in US Agency Securities.
• Liquid Investments: State Investment Pool Rates are now at 0.1139% and has dropped to
approximately 9% of what it was this time last year. It has been dropping gradually since June
2019 and drastically since February 2020. The Public Interest Checking account earned 0.1443
– 0.1649% this quarter. The Public Interest Checking is been .0166-0.0304% higher than the
LGIP.
• 2021 Agency Portfolio Transactions: Two Securities were called and we purchased one
security in March.
• Treasurer’s Cash Treasury & CD Investments as of 3/31/2021 is just under $1 million in Securities
and $13.5 million in CDs.
• Schedule of Long-Term Debt for the end of the second quarter. General Obligation debt is
$5.067 million. The JeffCom portion of debt includes the two listed items: The LTGO Refunding
2016 at $945,654 and a portion of LTGO Refunding 2016B at $968,262 for a total of $1,913,916 of the total $5.067 million general obligation county debt. Total General Obligation and
Special Purpose District debt is $174 million.
Letter to 1st Security Bank
RE: Authorized County Staff to Conduct Banking Activity
Due to resignations of key staff and promotions to fill positions, it is necessary to update county
staff authorized to conduct banking activity and sign checks for Jefferson County Treasurer’s
Bank Accounts.
Kate moved to approve the signing of letter presented. Rose Ann seconded. Motion approved.
With no further business, the meeting adjourned at 9:07 am.
Notice of Adjournment prepared by Jefferson County Treasurer.
Please tentatively mark your calendar for the 2021 meetings that are proposed as follows at 8:30 am in the First Floor Conference Room:
July 27, 2021
October 26, 2021
Approved:
_______________________________________
Stacie Prada, Jefferson County Treasurer
_______________________________________
Rose Ann Carroll, Jefferson County Auditor
*Note: Reports distributed prior to the meeting not with minutes.