HomeMy WebLinkAboutFinance-Tax Update (2)Monthly Meeting with Board of Commissioners
Finance Director/Treasurer
AGENDA
September 24,2012
(1) Monthly Investment Report
(2) August 2012 Financials
(3) Approval of the Investment Policy Guidelines
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Investments By County Function
LGIP/BOTC/UMPQUA 80,419,613 75.46% Investment Income -Net Is 54,930 S 113,503
Total Investments S 106.575.120 100.00%
General $ 106,575,120
,Commercial Paper $ 0.00%
Corporate Notes 12,963,439 12.16%
Time Certificates 9,250,175 8.68°1.
U. S. Treasuries 0.00% Total Investments S 106,575,120
Federal Agencies 3,941,693 3.70% Total Investment Income
Bankers' Acceptan.ces 0.00-;' Less Fee: 5% of Invest. Income
Investment Income
F'lscal Year 2012-13 I
Aug-12 I I Y-T-O I
$ 57,821 $ 119,477
I
I
157,821 119,477
(2,891 ~ (5,974~!
Total Portfolio: By Investment Types
4%
Corporate
Notes Time
12% Certificates
9% Federal
Agencies
LGIPI BOTCI
UMPQUA
72 %
Category Maximums:
U.S. Treasuries 100%
'ILGIP 100% ~Federal Agencies 75%
Bar.lker's Accefjtances 25%
Time Certificates 25%
Commercial Paper 20'/0
Co~orate Notes 10%
Comparato
3 Month Treas. ~ 0.09%
1 2 Month Treas. ~ 0.16%
3 Month C P ~ 0.17%
Average Maturity in Days
General ---651
100,000 .00
1,897,704.00.
4--1--2 ,.1-24 .000 .00
~OO , OQO . qQ.
2,000,000.00
141 ,563.53
-1,91 ,786.89
J., ~1.§.,492.50
_2.....1 ~?...L~8 :§~
2,.D5,2 ?9c 44
_2 .~397 . 2~
,015.194.44
12,963,,1 38.89
~,,?50,l?5 . 27
3 , 941..§~2 . 50
N/C
N/C
N/C
NlC
N/C
N/C
N/C
N/C
I I Q.OO%
12.16%
8.68%
0.00%
3.70%
.'
Memorandum
Date: September 17, 2012
To: Board of County Commissioners
Erik Kropp, Interim County Administrator
From: Marty Wynne, Finance Director
RE: Monthly Financial Reports
Attached please find August 2012 financial reports for the following funds:
General (001), Community Justice -Juvenile (230), Sheriff's (255, 701, 702),
Public Health (259), Behavioral Health (275), Community Development (295)' Road
(325)' Community Justice -Adult (355)' Commission on Children & Families (370
399), Solid Waste (610)' Insurance Fund (670), 9-1-1 (705)' Health Benefits Trust
(675)' and Fair & Expo Center (618).
The projected information has been reviewed and updated, where appropriate, by
the respective departments.
Cc: All Department Heads
GENERAL FUND
Statement of Financial Operating Data ·' Two Months Ended August 31, 2012
RESOURCES:
Beg. Net Working Capital
Revenues
Current & Prior Taxes
Gen. Rev. -excl. Taxes
Assessor
County Clerk
BOPTA
District Attorney
Financerrax
Veterans
Property Management
Grant Projects
Total Revenues
Year to Date
Budget I Actual I Variance IFY% I Coli. %
$ 8,700,000
3,479,527
396,955
124,771
230,004
2,066
30,782
33,150
11,400
16,541
333
$ 9,046,110 $ 346,110
384,920 (3,094,607)
853,758 456,803
204,978 80,207
277,439 47,435
4,117 2,051
12,814 (17,968)
72,398 39,248
150 (11,250)
15,707 (834)
333 0
100%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
104%
2%
36%
27%
20%
33%
7%
36%
0%
16%
17%
4,325,529 1,826,614 (2,498,915) 17% 7%
a)
b)
c)
c)
c)
d)
FY 2013 Year End $
Budget Projection Variance
$8,700,000 $ 9,046,110 $ 346,110
20,877,160 20,877,160
2,381,731 2,381,731
748,626 748,626
1,380,023 1,380,023
12,398 12,398
184,694 184,694
198,900 198,900
68,400 68,400
99,244 99,244
2,000 2,000
25,953,176 25,953,176
TOTAL RESOURCES 13,025,529 10,872,724 (2,152,805) 17% 31% 34,653,176 34,999,286 346,110
REQUIREMENTS: I ElQ)·%1
Expenditures
Assessor 590,205 528,720 61,485 17% 15% 3,541,227 3,541,227
County ClerK 244,606 174,673 69,933 17% 12% 1,467,638 1,467,638
BOPTA 12,064 11,856 208 17% 16% 72,385 72,385
District Attorney 879,111 813,207 65,904 17% 15% 5,274,667 5,274,667
Financerrax 138,978 127,708 11,270 17% 15% 833,865 833,865
Veterans 43,499 39,296 4,203 17% 15% 260,992 260,992
Property Management 45,338 43,854 1,484 17% 16% 272,027 272,027
Grant Projects 20,392 19,607 785 17% 16% 122,349 122,349
Non-Departmental 270,779 152,326 118,453 17% 9% e) 1,624,671 1,624,671
Contingency 1,354,451 1,354,451 17% n/a 8,126,703 8,126,703
3,599,423 1,911,248 1,688,175 17% 9% 21,596,524 13,469,821 8,126,703
Transfers Out 2,176,109 2,080,747 95,363 17% 16% 13,056,652 13,056,652
TOTAL REQUIREMENTS 5,775,532 3,991,994 1,783,538 17% 12% 34,653,176 26!526,473 8,126,703
NET (Resources -Requirements) 7,249,998 6,880,730 (369,267) 8 1472,813 8,472,813
a) Current year taxes not due until November
b) Includes annual payments: PilT $730,983
c) A & T Grant received quarterly-July, October, January & April
d) State payment received quarterly
e) Budget includes $576,736 payment to lED#2. Will not be expended until June 2013
Page 1
COMM JUSTICE-JUVENILE
.~Statement of Financial Operating Data
Two Months Ended August 31,2012
RESOURCES:
Beg. Net Working Capital
Revenues
Federal Grants
SB #1065-Court Assess.
Discovery Fee
Food Subsidy
OYA Basic & Diversion
Inmate/Prisoner Housing
Inmate Commissary Fees
Contract Payments
Miscellaneous
Program Fees
MIP Diversion Fees
Interest on Investments
Leases
Grants -Private
CFC Interfund Grant
Interfund Grant -Gen Fund
Year to Date
Budget L Actual LVariance [Fy% 1 Coil. %
$1,010,415
1,000
8,333
2,167
3,500
62,558
10,000
17
20,333
33
8
167
1,333
200
83
20,944
3,333
$ 995,051 $ (15.364)
(1,000)
3,279 (5,054)
1,810 (357)
2,220 (1,280)
(62,558)
23,400 13,400
(17)
4,466 (15,868)
(33)
(8)
225 58
1,155 (178)
300 100
719 636
(20,944)
p,333l
100%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
98%
0%
7%
14%
11%
0%
39%
0%
4%
0%
0%
23%
14%
25%
144%
0%
0%
a)
b)
c)
b)
d)
d)
FY 2013 Year End
BudSlet Projection Variance
$1,010,415 $ 995,051 $ (15,364)
6,000 6,000
50,000 50,000
13,000 13,000
21,000 21,000
375,347 375,347
60,000 85,000 25,000
100 100
122,000 122,000
200 200
50 50
1,000 1,000
8,000 8,000
1,200 1,200
500 1,100 600
125,661 125,661
20,000 20,000
Total Revenues 134,009 37,573 (96,436) 17% 5% 804,058 829,658 25,600
Transfers In-General Fund 890,754 890,754 17% 17% 5,344,523 5,344,523
TOTAL RESOURCES 2,035,178 1,923,378 (111,800) 17% 27% 7,158,996 7,169,232 10,236
REQUIREMENTS: I Exp. %1
Expenditures
Community Justice-Juvenile
Personal Services 845,836 834,035 11,801 17% 16% 5,075,017 5,075,017
Materials and Services 198,993 151,353 47,640 17% 13% 1,193,960 1,193,960
Capital Outlay 17 17 17% 0% 100 100
Transfers Out 8,400 8,400 17% 0% 50,400 50,400
Contingency 139,920 139,920 17% nfa 839,519 839,519
TOTAL REQUIREMENTS 1,193,166 985,389 207,777 17% 14% 7,158,996 6,319,477 839,519
NET (Resources· Requirements) 842,012 937,989 95,977 849,755 849,755
a) Payments received quarterly
b) Revenues trending higher than anticipated
c) Contract payment reimbursement requests submitted monthly, receive 1-2 months in arrears
d) Grants received quarterly
Page 2
SHERIFF -Fund 255
Statement of Financial Operating Data
of Two Months Ended August 31, 2012
Year to Date
Budget I Actual I Variance I FY % I CoIl. %
RESOURCES:
Beg. Net Working Capital $ $ $ 100% nfa $ $ $
Revenues
Law Enf Dist COuJltywid....e__ 3 ,760,271 3,059,415 (700,856) 17% 14% *
17% 14% *
* Revenues from LED #1 & LED #2 adjusted monthly to equal actual expenditures
a) FY 2013 appropriated amount, $360,690 for payment Deschutes County Communication System Fund expended in July 2012
b) Projected variance due to delays in filling open positions
FY 2013 Year End
Budget Projection Variance
Total Revenues
TOTAL RESOURCES
REQUIREMENTS:
EXPENDITURES & TRANSFERS
Sheriffs Division
Civil
Automotive/Communications
Investigations/Evidence
Patrol/CivillComm Supp
Records
Adult Jail
Court Security
Emergency Services
Special Services Division
Regional Work Center
Training Division
Other Law Enforcement Svcs
Non-Departmental
Contingency
TOTAL REQUIREMENTS 6,167,219 5,141,191 1,026,028 17% 14%
NET (Resources -Requirements)
6,167,220
6,167,220
377,272
133,165
300,104
251,363
1,378,226
119,603
1,723,679
50,500
32,422
223,218
443,846
84,158
107,251
14,209
928,203
5,141,191 (1,026,029) 17% 14%
5,141,191 (1,026,029) 17% 14%
Exp . %1
414,375 (37,103) 17% 18%
108,228 24,937 17% 14%
490,298 (190,194) 17% 27% a)
255,378 (4,015) 17% 17%
1,288,733 89,493 17% 16% b)
96,136 23,467 17% 13%
1,584,481 139,198 17% 15% b)
48,795 1,705 17% 16%
31,163 1,259 17% 16%
228,607 (5,389) 17% 17%
405,657 38,189 17% 15%
69,431 14,727 17% 14%
105,701 1,550 17% 16%
14 ,209 0 17% 17%
928,203 17% n/a
37,003,318 31,337,723 (5,665,595)
37,003,318 31,337,723 (5,665,595)
2 ,263,630 2,263,530 100
798,989 798,889 100
1,800,625 1,805,150 (4,525)
1,508,180 1,508,OBO 100
8,269,358 8,219,358 50,000
717,617 717 ,517 100
10,342,072 10,292,072 50,000
303,001 302,901 100
194,533 194,433 100
1,339,308 1,339,308
2,663,078 2,662,978 100
504,950 504,850 100
643,504 643,404 100
85,253 85,253
5,569,220 5,569,220
37,003,318 31,337,723 5,665,595
Page 3
Fund 701 LED-Countywide
Statement of Financial Operating Data .~
Two Months Ended August 31 , 2012
Year to Date
Actual Variance Variance
RESOURCES:
Beg , Net Working Capital $4,507,352 $ 5,883,963 $ 1,376,611 100% 131% $ 4,507,352 $5,883,963 $ 1,376,611
Tax Revenues -Current 2 ,564 ,2 90 (2,564,290) 17% 0% a) 15,385 ,740 15 ,385,740
T ax Revenues -Prior 73 ,333 283,458 210 ,125 17% 64 % 440 ,000 440 ,000
Federal Grants & Reimb 5 ,000 (5,000) 17 % 0% 30 ,000 30 ,000
State Grant 12 ,333 9 ,080 (3 ,253) 17 % 12 % 74,000 74 ,000
Transp . of State Wards 833 (833) 17% 0% 5 ,000 5,000
S81145 246 ,665 369 ,998 123 ,333 17 % 25 % 1,479,991 1,479,991
Prisoner Housing 8,333 (8,333) 17% 0% 50,000 50,000
Des . Cty Video Lottery Grant 833 5 ,000 4,167 17% 100 % 5,000 5,000
Des Cty Court Security 40,167 40,018 (149) 17% 17% 241,000 241,000
Des Cty Juvenile Contract 697 (697) 17% 0% 4,180 4,180
Transport 83 410 327 17% 82 % 500 500
Other 583 6 ,500 5,917 17% 186 % 3 ,500 6,500 3 ,000
DC Fair & Expo Center 667 756 89 17 % 19 % 4 ,000 4,000
Inmate Commissary Fees 1,667 1 ,518 (149) 17 % 15 % 10 ,000 10,000
Work Center Work Crews 8 ,333 1,055 (7,278) 17 % 2% 50 ,000 50 ,000
Concealed Handgun Classes 583 850 267 17% 24 % 3 ,500 3 ,500
Inmate Telephone Fee 13 ,333 5 ,710 (7 ,623) 17% 7% 80,000 80 ,000
Soc Sec Incentive-Fed 833 1,000 167 17 % 20 % 5 ,000 5 ,000
Miscellaneous 833 1,432 599 17 % 29% 5 ,000 5 ,000
Oregon Mentors 167 (167) 17 % 0% 1 ,000 1 ,000
Debit Card Fee 17 71 54 17 % 71 % 100 100
Medical Services Reimb 2,167 259 (1,908) 17 % 2% 13,000 13 ,000
Restitution 833 (833) 17% 0% 5,000 5,000
Sheriff Fees 41,667 42,834 1,167 17% 17 % 250,000 250,000
Interest 4,722 5,441 719 17% 19 % 28,333 28,333
Interest on Unsegregated 589 67 (522) 17% 2% 3,533 3,533
Donat ions -"Shop with a Cop" 8,650 11 ,288 2,638 17 % 22 % 51 ,897 51,897
Sale of Reportable Assets 833 (833) 17 % 0% 5 ,000 5,000
Total Revenues 3,039,044 786,746 ~2,252,2981 17% 4% 18,234,274 18,237,274 3,000
TOTAL RESOURCES 7,546,396 6 ,670,709 (875,687) 17% 29% 22,741,626 24,121,237 1,379,611
REQUIREMENTS: I Exp. %1
Fund 255 Departments :
Sheriffs Services 352 ,210 386 ,848 (34 ,639) 17 % 18% 2 ,113 ,257 2 ,113,164 93
Civ il 133 ,165 108,228 24,937 17% 14% 798 ,989 798 ,889 100
Auto/Comm 110 ,663 180,797 (70,134) 17% 27 % 663,980 665,649 (1 ,669)
Adult Jail 1,723,679 1,584,481 139,197 17% 15% 10 ,342,072 10,292,072 50 ,000
Court Security 50,500 48,795 1,705 17% 16% 303,001 302,901 100
Emergency Services 32,422 31 ,163 1,259 17% 16% 194,533 194,433 100
Special Services 154,453 158 ,182 (3,729) 17% 17% 926,721 926,721
Work Center 443,846 405,657 38,190 17% 15% 2,663,078 2,662,978 100
Training 51,446 42,443 9,003 17% 14% 308,676 308,615 61
Other (CODE, Forensic) 107,251 105,701 1,550 17% 16% 643,504 643,404 100
Non Dept -ISF Charges 7 ,119 7 ,119 (0) 17% 17% 42,712 42,712
Contingency 593 ,517 593,517 17% n/a 3,561 ,103 3 ,561,103
Total to Fund 255 3,760,271 3 ,059,415 700,856 22,561,626 18,951.537 3,610,089
Transfer to Reserve Fund (703) 16 ,667 16 ,667 17% 0% 100,000 100,000
Non Dept -Comm System Res 13 ,333 13 ,333 17% 0% 80,000 80 .000
Total Requirements 3,790 .271 3.059,415 730 ,855 17% 13% 22,741,626 19 ,131 ,537 3 .610 .089
Net 3,756 .125 3 ,611.294 (144.831) 4 .989 .699 4 .989 .699
a) Current year taxes not due until November
• Payment to Sheriffs Fund adjusted monthly to equal actual expenditures attributable to countywide services. Page 4
Total Revenues 1,966,963 641,666 {1,325!297} 50% 5% 11,801,777 11 ,804,277 2,500
TOTAL RESOURCES 4 ,826,878 3,886,237 (940,641) 50% 27% 14,661,692 15,048,848 387,156
REQUIREMENTS: I Exp. %1
Fund 255 Departments:
Sheriffs Services 25,062 27,527 (2 ,465) 17% 18% 150,373 150,366 7
Auto/Comm 189,441 309,500 (120,060) 17% 27% 1,136,645 1,139,501 (2,856)
Investigations 251,363 255,378 (4,014) 17 % 17% 1,508,180 1,508,080 100
Patrol 1,378 ,226 1 ,288,733 89,494 17 % 16% 8,269,358 8 ,219,358 50 ,000
Records 119,603 96,136 23,467 17% 13% 717,617 717 ,517 100
Special Services 68,765 70,425 (1,660) 17% 17% 412 ,587 412,587
Training 32 ,712 26 ,988 5,724 17% 14% 196,274 196,235 39
Non Dept -ISF Charges 7,090 7 ,090 (0) 17% 17% 42 ,541 42,541
Cont in 334 ,686 17% nla 2 ,008 .117 2 ,008,117
Transfer to Reserve Fund (704) 16,667 16,667 17% 0% 100,000 100,000
Non Dept -Comm System Res 20,000 20,000 17% 0% 120,000 120,000
Total Requirements 2,443,615 2.081 ,776 361 1839 17% 14% 14.661 ,692 12.606.186 2 ,055,506
334,686 ~_..,..~
Fund 702 LED Rural
Statement of Financial Operating Data
Two Months Ended August 31 , 2012
RESOURCES:
Variance Variance
Beg. Net Working Capital $ 2,859,915 $ 3,244,571 $ 384,656 100% 113% $ 2,859,915 $ 3,244,571 $ 384,656
Revenues
Tax Revenues -Current 1,258,333 (1 ,258,333) 17% 0% a) 7,550,000 7,550,000
Tax Revenues -Prior 38 ,333 139,318 100,985 17% 61 % 230.000 230,000
Federal Grants & Reimb 2,500 (2,500) 17% 0% 15,000 15,000
Federal Grants-BlM 4,333 (4 ,333) 17% 0% 26 ,000 26 ,000
US Forest Service 12,500 (12,500) 17 % 0% 75 ,000 75 ,000
Bureau of Reclamation 4,333 (0) (4,333) 17% 0% 26 ,000 26 ,000
State G rant 31 ,532 24,751 (6,781 ) 17 % 13 % 189,194 189,194
SB #1065 Court Assessment 9 ,167 3 ,279 (5 ,888) 17% 6% 55 .000 55 ,000
Marine Board License Fee 23,682 (23.682) 17 % 0% 142,091 142 ,091
Des Cty General Fund Grant 96,123 (96,123) 17 % 0% 576,735 576,735
Des Cly Transient Room Tax 345 ,544 345,544 0 17% 17% 2,073,265 2,073,265
Des Cty Tax Office Contract 83 (83) 17% 0% 500 500
City of Sisters 77 ,993 77,993 0 17% 17% 467 ,960 467,960
Des Cty CDD Contract 9,061 9 ,061 17 % 17% 54 ,366 54 ,366
Des Cty Sol id Waste Contr 9,061 9 ,061 17% 17% 54 ,366 54 ,366
Des Cty Clerk/Election 167 (167) 17 % 0% 1,000 1,000
School Districts 6 ,667 (6 ,667) 17% 0% 40,000 40,000
Security & Traffic Reimb 833 (833) 17 % 0% 5,000 5 ,000
Seat Belt Program 1,667 630 (1 ,037) 17 % 6% 10 ,000 10,000
Miscellaneous 1,000 3 ,506 2,506 17% 58% 6 ,000 6,000
False Alarm Fees 333 400 67 17 % 20% 2,000 2,000
Restitution 833 25 (808) 17 % 1% 5,000 5,000
Sheriff Fees 1,667 2 ,028 361 17% 20% 10,000 10,000
Co urt Fines & Fees 20,000 19,795 (205) 17% 16% 120 ,000 120,000
Impound Fees 667 1,300 633 17 % 33% 4,000 4 ,000
Restitution -Street Crimes 83 (83) 17 % 0% 500 500
Seizure/Forfeiture 167 (167) 17% 0% 1 ,000 1,000
Interest 1,667 2,409 742 17% 24 % 10 ,000 10,000
Interest on Unsegregated 300 34 (266) 17 % 2% 1 ,800 1.800
Donations 2 ,500 2,500 17% nfa 2,500 2 ,500
Sale of Equip & Material 1,667 33 (1,634) 17% 0% 10,000 10,000
Sale of Reportable Assets 6,667 (6 .667) 17% 0% 40,000 40,000
enc
Net 2 .383 ,263 1,804,461 (578,802) 2,442 ,662 2,442,662
a) Current year taxes not due until November
• Payment to Sheriffs Fund adjusted monthly to equal actual expenditures attributable to rural services .
Page 5
PUBLIC HEALTH
Statement of Financial Operating Data '
Two Months Ended August 31,2012
RESOURCES:
Net Working Capital
Revenues
Medicare Reimbursement
Federal Grant
Federal Grant
State Grant
Child Dev & Rehab Center
State Miscellaneous
OMAP
Title 19
Family Proj
Local Grants
Environmental Health-Water
Contract Payments
Miscellaneous
Patient Insurance Fees
Health Dept/Patient Fees
Vital Records-Birth
Vital Records-Death
Environmental Health-Lie F ac
Interest on Investments
Donations
Inlerfund Contract
Administrative Fee
Total Revenues
$1,336,051
167
33,333
435,861
6,602
59
91,667
15,367
32,200
17,183
6,833
16,667
120,008
2,000
883
955,258
$ 1,327,199
5,000
2,908
47,942
8,482
10,000
700
16,412
13,146
7,340
17,650
42,916
1,053
17,401
191,083
$ (8,852)
(16?)
5,000
(33,333)
(435,861 )
(6,602)
(19,549)
(56,656)
(59)
(22,802)
(15,367)
10,000
700
(15,788)
(4,037)
507
983
(77,092)
(947)
16,518
(26,438)
0
(164,175)
100%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
99%
0%
nfa
0%
0%
0%
2%
8%
nfa
2%
0%
0%
nfa
n/a
8%
13%
18%
18%
6%
9%
328%
0%
17%
3%
a}
$1,336,051
1,000
200,000
134,740
627,588
352
550,000
136,810
92,200
193,200
103,100
41,000
100,000
12,000
5,300
158,629
5,731,546
$1,327,199
1,000
5,000
200,000
2,615,168
39,609
134,740
627,588
352
550,000
136,810
92,200
10,000
700
193,200
103,100
41,000
100,000
720,050
12,000
22,277
158,629
5,764,223
$ (8,852)
5,000
10,000
700
32,677
Transfers In-General Fund
Transfers In-PH Res Fund
Transfers In-Gen. Fund Other
TOTAL RESOURCES
391,560
10,023
2,703,742
391,560
1,909,842
(10,023)
(793,900)
17%
17%
17%
17%
17%
0%
0%
20% 9,542,190 9,566,015 23,825
REQUIREMENTS:
Expenditures
Personal Services
Materials and Services
Capital Outlay
Transfers Out
Contingency
26,200
1,012,625
249,099
45,314
70,438
10,833
26,200
17%
17%
17%
17%
17%
16%
13%
0%
0%
nfa
b)
6,347,635
1,91
65,000
157,200
6,347,635
7,220
65,000
TOTAL REQUIREMENTS 1,590,365 1,261,724 328,641 17% 13% 9,542,190 8.422,055 1,120,135
2,349,357
NET (Resources -Requirements)
for July will be received in Payment is until after the award is executed
Outlay expense for the OCHIN System expended in FY 2012
6
BEHAVIORAL HEALTH
Statement of Financial Operating Data
Two Months Ended August 31.2012
Vearto Date
Actual Variance Variance
RESOURCES:
Beg. Net Working Capital $3,320,968 $ 3,113,095 $ (207,873) 100% 94% $3,320,968 $3,113,095 $ (207,873)
Revenues
Marriage Licenses 1,083 1,915 832 17% 29% 6.500 6.500
Divorce Filing Fees 26,667 20,642 (6,025) 17% 13% 160,000 160,000
Domestic Partnership Fee 8 30 22 17% 67% 45 100 55
Federal Grants 42,058 (42,058) 17% 0% a) 252,349 252,349
Federal Grant (ARRA) 10,625 (10,625) 17% 0% 63,750 63,750
State Grants 1,288,433 243,256 (1,045,177) 17% 3% 7,730,599 7,730,599
State Miscellaneous 10,310 (10,310) 17% 0'% 61,860 61,860
Adult Mental Health Initiative 33,333 (33,333) 17% 0% 200,000 200,000
Title 19 44,908 27,151 (17,757) 17% 10% 269,446 269,446
Liquor Revenue 23,583 23,854 271 17% 17% 141,500 141.500
School Districts 11,500 (11,500) 17% 0% 69,000 69,000
Miscellaneous 495 495 17% nfa 5,000 5,000
Patient Insurance Fees 14.589 20,532 5,943 17% 23% 87.532 87,532
Patient Fees 158 255 97 17% 27% 950 950
Interest on Investments 4.167 3.500 (667) 17% 14% 25,000 25,000
Rentals 3,083 1,000 (2,083) 17% 5% 18,500 18,500
Administrative Fee 882.088 862.088 (20,000) 17% 16% 5.292,527 5,292,527
Interfund Contract·Gen Fund 21,167 ~21,1671 17% 0% a) 127,000 127,000
Total Revenues 2,417,760 1,204,718 (1,213,042) 17% 8% 14,506,558 14,511,613 5,055
Transfers In-General Fund 217,965 217,965 17% 17% 1,307.787 1.307,787
Transfers In·OHP·CDO 80,749 80,749 17% 17% 484,494 484,494
Transfers In-Acute Care Svcs 44,106 44,106 17% 17% 264,631 264.631
Transfers In·ABHA 87,340 87,340 -17% 17% 524,039 524,039
TOTAL RESOURCES 6,168,888 4,747,972 (1,420,915) 17% 23%
REQUIREMENTS: Exp. %1
Expenditures
Personal Services 1,874,581 1,795,357 79,224 17% 16%
Materials and Services 1,099,039 556,797 542,242 17% 8%
Capital Outlay 17 17 17% 0%
Transfers Out 34,000 34,000 17% 0%
Contingency 393,776 393,776 17% n/a
20,408,477 20,205,659 (202.818)
11,247,487
6,594,235
100
204,000
2,362,655
11,247,487
6,594,235
204,000
100
2,362,655
TOTAL REQUIREMENTS 3,401,413 2,352,154 1,049,259 170/0 12% 20,408,477 18,045,722 2,362,755
NET (Resources -Requirements) 2,767,475 2,395,818 '371,656~ 2,159,937 2,159,937
a) Received quarterly, in arrears
Page 7
COMMUNITY DEVELOPMENT
Statement of Financial Operating Data
Two Months Ended August 31. 2012
Year to Date
Budget I Actual I Variance I FY % I Coli. %
FY 2013 Year End
BudQet Projection Variance
RESOURCES:
Beg. Net Working Capital
Revenues
Admin-Operations
Admin-GIS
Admin-Code Enforcement
Building Safety
Electrical
Contract Services
Env Health-On Site Prog
Planning-Current
Planning-Long Range
$ 10,000
3,682
208
27,700
212.263
42.667
18.600
52,162
106,225
37,737
192,482
6,971
290
35,460
228,331
62,459
16,624
57,290
109,735
47.286
$ 182,482
3,289
82
7,760
16.068
19,792
(1,976)
5,128
3.510
9,549
100%
17%
17%
17%
17%
17%
17%
17%
17%
17%
1925%
32%
23%
21%
18%
24%
15%
18%
17%
21%
a)
$ 10,000
22.090
1,250
166,200
1,273,575
256,000
111.600
312.971
637,350
226,421
$ 192,482
22,090
1,250
166,200
1,273,575
256,000
111.600
312.971
637,350
226,421
182,482
Total Revenues
Transfers In
General Fund -Gen Ops
General Fund -UR Planning
A&T Reserve (DIS assistance)
Other
TOTAL RESOURCES
REQUIREMENTS:
EXPENDITURES & TRANSFERS
Admin-Operations
Admin-GIS
Admin-Code Enforcement
Building Safety
Electrical
Contract Services
Env Health-On Site Pgm
Planning-Current
Planning-Long Range
Transfers Out (DIS Fund)
Contingency
501,244
142,478
82.560
14,930
17
751,229
225.532
19,630
38,154
103,515
33.872
23.624
26,606
107,053
77,234
29,859
57.817
564,446
142,478
82,560
981,966
228,620
19,004
35,661
100,705
31.141
22,520
24,954
97,271
65,511
63,202
(14,930)
(17)
230,737
(3,088)
626
2,493
2,810
2.731
1.104
1,652
9,782
11,723
29,859
57,817
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
19%
17%
17%
0%
0%
22%
Exp. %1
17%
16%
16%
16%
15%
16%
16%
15%
14%
0%
nla
3,007,457
854,872
495,360
89,577
100
4,457,366
1.353,189
117,778
228,925
621.087
203,231
141,745
159,636
642,315
463,401
179,155
346,904
3,007,457
854.872
495,360
89,577
4,639,748
1,353,189
117,778
228,925
621,087
203.231
141,745
159,636
642,315
463,401
179,155
(100)
182,382
346,904
TOTAL REQUIREMENTS 742,896 625,387 117,509 17°,4 14% 4,457,366 4,110,462 346,904
NET (Resources -Requirements) 8,333 356,579 348,246
Revenues 564,446
Expenditures 625,387
Net from Operations {60,941)
529,286 529,286
3,007,457 3.007,457
4,457,366 4,110,462 346.904
{1,449.909l {1,103,O05~ 346,904
a) Revenue typically lags 1-2 months behind due to billing cycles
Page 8
ROAD
Statement of Financial Operating Data
Two Months Ended August 31,2012
Year to Date
Budget 1 Actual 1 Variance IFY % I Coil. %
FY2013 Year End
Budget Projection Variance
RESOURCES:
Beg. Net Working Capital $4,719,551 $ 4,940,444 $ 220,893 100% 105% $ 4,719,551 $ 4,940,444 $ 220,893
Revenues
System Development Charge 693 693 17% n/a 693 693
Federal Grant (ARRA) 1,167 (1,167) 17% 0% 7,000 7,000
Mineral Lease Royalties 6,667 4,151 (2,516) 17% 10% 40,000 40,000
Forest Receipts 66,138 (66,138) 17% 0% a) 396,826 396,826
State Miscellaneous 90,382 (90,382) 17% 0% b) 542,290 542,290
Motor Vehicle Revenue 1.798,341 1,626,947 (171,394) 17% 15% 10.790,043 10,790,043
City of Bend 4,167 (4.167) 17% 0% c) 25,000 25,000
City of Redmond 58,333 (58,333) 17% 0% c) 350,000 350,000
City of Sisters 1,667 (1.667) 17% 0% c) 10,000 10,000
City of La Pine 1,667 (1,667) 17% 0% c) 10,000 10,000
Admin Recovery (SOC) 722 722 17% n/a 1.000 1,000
Miscellaneous 3,333 1,915 (1,418) 17% 10% 20,000 20,000
Road Vacations 167 (167) 17% 0% 1,000 1.000
Interest on Investments 2,500 5,366 2,866 17% 36% 15,000 15,000
Interfund Contract 115,000 (115,000) 17% 0% d) 690,000 690,000
Equipment Repairs 36,667 18,826 (17,841 ) 17% 9% 220,000 220,000
Vehicle Repairs 15,000 (15,000) 17% 0% d) 90,000 90,000
LID Construction 1,667 (1,667) 17% 0% d) 10,000 10,000
Vegetation Management 4,167 (4,167) 17% 0% d) 25,000 25,000
Forester 4,167 (4,167) 17% 0% d) 25,000 25,000
Car Washes 667 (667) 17% 0% 4.000 4,000
Car Rental 167 (167) 17% 0% 1,000 1,000
Sale of Equip & Material 120,600 6,931 (113,669) 17% 1% 723,600 723,600
Total Revenues 2,332,631 1,665,551 (667,080) 17% 12% 13,995,759 13,997,452 1,693
Trans In -Solid Waste 46,045 (46,045) 17% 0% e) 276,272 276,272
Trans In -Transp SOC 41,667 (41.667) 17% 0% e) 250,000 250,000
Trans In-Road Imp Res 2,000 (2,000) 17% 0% d) 12,000 12,000
TOTAL RESOURCES 7,141,894 6,605,995 (494,232) 17% 37% 19,253,582 19,476,168 222,586
REQUIREMENTS: I Exp. %1
Expenditures
Personal Services 894,200 896,407 (2,207) 17% 17% 5,365,202 5,365,202
Materials and ServiCes 1,573,110 2,137,965 (564,855) 17% 23% f) 9,438,662 9,438,662
Capital Outlay 339,550 6,684 332,866 17% 0% 2,037,300 2,037,300
Transfers Out 45,833 45,833 17% 0% 275,000 275,000
Contingency 356,236 356,236 17% n/a 2,137,418 2,137,418
TOTAL REQUIREMENTS 3,208,929 3,041,056 167,873 17% 16% 19,253,582 17,116,164 2,137,418
NET (Resources -Requirements) 3,932,965 3,564,939 (326,359) 2,360,004 2,360,004
a) Payment received annually in January
b) Payment expected in November
c) Billed upon completion of work
d) Payments to be received in June 2013 from other Road Department funds
e) Payments made quarterly Page 9
f) Expenditures are seasonal and higher during summer months
ADULT PAROLE & PROBATION
Statement of Financial Operating Data
Two Months Ended August 31, 2012
RESOURCES:
Beg. Net Working Capital
Revenues
DOC Measure 57
State Miscellaneous
Alternate Incarceration
State Subsidy
S81145
Probation Work Crew Fees
Miscellaneous
Electronic Monitoring Fee
Probation Superv. Fees
Interest on Investments
Interfund -Sheriff
Crime Prevention Grant
CFC-Domestic Violence
Budget I
Year to Date
Actual I Variance IFY% I Coil. %
$ 570,000 $
36,540
717
2,500
2,304
458,092
3,750
750
21,667
31,667
1,500
8,333
8,333
12,472
630,226
3,457
687,139
2,910
442
26,405
29,413
726
8,333
$ 60,226
(36,540)
(717)
(2,500)
1,153
229,047
(840)
(308)
4,738
(2,254)
(774)
0
(8,333)
~12,472~
100%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
17%
111%
0%
0%
0%
25%
25%
13%
10%
20%
15%
8%
17%
0%
0%
a)
b)
c)
c)
c)
FY 2013
Budget
$ 570,000
219,240
4,301
15,000
13,826
2,748,556
22,500
4,500
130,000
190,000
9,000
50,000
50,000
74,832
I nce
$ 630,226 $ 60,226
219,240
4,301
15,000
13,826
2,748,556
22,500
4,500
130,000
190,000
9,000
50,000
50,000
74,832
Total Revenues 588,625 758,826 170,201 17% 21% 3,531,755 3,531,755
Transfers In-General Fund 72,554 72,554 17% 17% 435,328 435,328
TOTAL RESOURCES 1,231,179 1,461,605 230,426 17% 32%
REQUIREMENTS:
Expenditures
Personal Services
Materials and Services
Capital Outlay
Contingency
515,215
148,281
17
92,668
485,996
108,147
29,219
40,134
17
92,668
1 Exp. %1
17% 16%
17% 12%
17% 0%
17% n1a
TOTAL REQUIREMENTS 756,181 594,143 162,038 17% 130/0
4,537,083 4,597,309 60,226
3,091,291
889,687
100
556,005
3,091,291
889,687
100
556,005
4,537,083 3,980,978 556,105
NET (Resources-Requirements) 474,998 867,462 392,464 616,331 616,331
a) Contracts recently approved, expecting payment by end of September
b) Annual allocation normally received by end of calendar year
c) State/County invoiced quarterly
Page 10
CHILDREN & FAMILIES COMMISSION
Statement of Financial Operating Data
Two Months Ended August 31, 2012
Year to Date
Budget! Actual ! Variance !FY % JCoil. %
RESOURCES:
FY 13 YearEnd
Budget Projection Variance
Beg. Net Working Capital $ 511,994 $ 574,985 $ 62,991 100% 112% $ 511,994 $ 574,985 $ 62,991
Revenues
Federal Grants 33,240 (33,240) 17% 0% a) 199,441 196,741 (2,700)
Title IV -Family Sup/Pres 6,589 (6,589) 17% 0% 39,533 39,533
HealthyStart Medicaid 14,167 (14,167) 17% 0% a) 85,000 60,000 (25,000)
Level 7 Services 32,816 (32,816) 17% 0% 196,898 196,898
State Prevention Funds 8,020 12,031 4,011 17% 25% b) 48,122 54,522 6,400
HealthyStart /R-S-G 36,659 (36,659) 17% 0% 219,951 219,951
OCCFGrant 69,966 (69,966) 17% 0% a) 419,796 391,940 (27,856)
Program Fees 200 200 17% nJa 1,000 1,000
Charges for Svcs-Misc 1,333 50 (1,283) 17% 1% 8,000 4,000 (4,000)
Court Fines & Fees 13,248 12,562 (686) 17% 16% c) 79,485 75,034 (4,451 )
Interest on Investments 167 680 513 17% 68% 1,000 5,000 4,000
Grants, Private 333 (333) 17% nJa 2,000 2,000
Interfund Grants 53,479 (53,479) 17% 0% d) 320,874 350,374 29,500
Total Revenues 270,017 25,522 (244,495) 17% 2% 1,620,100 1,596,993 (23,107)
I Trans from General Fund 46,000 46,000 17% 17% 275,984 275,984
Total TransflrsIn 46,000 46,000 17% 17% 275,984 275,984
I
I TOTAL RESOURCES 828,011 646,508 (181,503) 17% 27% 2,408,078 2,447,962 39,884
REQUIREMENTS: I Exp. %1
Expenditures
Personal Services 107,912 97,579 10,333 17% 15% e) 647,474 601,397 46,077
Materials and Services 246,000 35,634 210,366 17% 2% f) 1,475,997 1,441,745 34,252
Capital Outlay 17 17 17% 0% 100 100
Contingency 47,418 47,418 17% nJa 284,507 284,507
TOTAL REQUIREMENTS 401,347 133,212 268,135 17°A. 6% 2,408,078 2,043,142 364,936
NET (Resources -Requirements) 426,664 513,295 86,631 404,820 404,820
a) Federal and state grants will be less than estimated for FY 2013 budget
b) Additional GLS grant funds awarded
c) State reduced the Circuit Court fees
d) Additional grant funds of $17,500 - A & 0 70 and $12,000 EUDL projected to be received
e) Personnel expenditures projected to be less than appropriated. Open position, due to retirement, will not be filled
f) M & S projected to be less than appropriated due to revenue reductions and office costs reductions
Page 11
SOLID WASTE
Statement of Financial Operating Data
Two Months Ended August 31, 2012
Year to Date
Budget I Actual I Variance I FY % I Coli. %
FY 2013 Year End
Budget Projection Variance
RESOURCES:
Beg. Net Working Capital $ 700,513 $ 807,470 $ 106,957 100% 115% $ 700,513 $ 807,470 $ 106,957
Revenues
Miscellaneous 3,667 3,650 (17) 17% 17% 22,000 22,000
Franchise 3% Fees 33,333 5,417 (27,916) 17% 3% a) 200,000 200,000
Commercial Disp. Fees 143,333 170,433 27,100 17% 20% 860,000 860,000
Private Disposal Fees 219,000 289,193 70,193 17% 22% 1,314,000 1,314,000
Franchise Disposal Fees 666,667 722,545 55,878 17% 18% 4,000,000 4,000,000
Yard Debris 12.167 25.914 13,747 17% 35% b) 73.000 73,000
Special Waste 4,167 1,920 (2.247) 17% 8% c) 25,000 25,000
Interest 1,250 1,396 146 17% 19% 7,500 7,500
Leases 1,800 1,800 17% 17% 10,801 10,801
Recyctables 7,500 9,579 2.079 17% 21% 45,000 45,000
Total Revenues 1,092,884 1,231,848 138,964 17% 19% 6,557,301 6,557,301
TOTAL RESOURCES 1,793,397 2,039,319 245,922 17% 28% 7,257,814 7,364,771 106,957
REQUIREMENTS
Expenditures
Personal Services
Materials and Services
Debt Service
Capital Outlay
Transfers Out-Road
Trans Out-Capital Res
Contingency
288,887
498,219
157,786
13,833
46,045
105.000
99,866
274,905
239.588
13.982
258,631
157.786
13,833
46,045
105,000
99.866
17%
17%
17%
17%
17%
17%
17%
Exp. %1
16%
8%
0%
0%
0%
0%
n/a
d)
e)
f)
g)
h)
1.733,321
2,989,313
946,713
83,000
276,272
630,000
599,195
1,733,321
2,989,313
946,713
83,000
276,272
630,000
599,195
TOTAL REQUIREMENTS 1,209,636 514,494 695,142 17% 7% 7,257,814 6,658,619 599,195
NET (Resources -Requirements) 583,761 1,524,825 941,064 706,152 706,152
a) Due April 15,2013
b) Seasonal item-Fall and Spring
c) Dependent on special clean-ups such as asbestos and contaminated soil
d) Purchasing will pick up as year progresses
e) Semi-Annual: November and May
f) In the process of contacting bidders
g) Quarterly
h) $315.000 to be transferred in September
Page 12
RISK MANAGEMENT
Statement of Financial Operating Data
" Two Months Ended August 31,2012
RESOURCES:
Beginning NetWorking Capital
Revenues
Inter-fund Charges:
General Liability
Property Damage
Vehide
Workers' Compensation
Unemployment
Claims Reimb-Workers' Compensation
Claims Reimb-Gen Uab/Property
Process Fee-Events/Parades
Miscellaneous
Skid Car Training
NSF Fee
Interest on Investments
Other Interest
TOTAL REVENUES
TOTAL RESOURCES
AppropriationslExpenditures
Direct Insurance Costs:
GENERAL LIABILITY
Settlement / Benefit
Defense
Professional Service
Insurance
Loss Prevention
Repair / Replacement
Total General Liability
PROPERTY DAMAGE
Insurance
Repair / Replacement
Total Property Damage
VEHICLE
Professional Service
Insurance
Loss Prevention
Repair / Replacement
Total Vehicle
WORKERS' COMPENSATION
Settlement I Benefit
Professional Service
Insurance
Loss Prevention
Miscellaneous
Total Workers' Compensation
UNEMPLOYMENT -Settlement/Benefits
Total Direct Insurance Costs
Insurance Administration:
Personal Services
Materials & Service
Capital Outlay
Total Insurance Administration
Transfers Out
TOTAL REQUIREMENTS
NET
a) Annual premium paid in July 2012
• Contingency is $2,149.038.
Year to Date
Budget I Actual I Variance I% of FY I % Coli.
$2,000,000 $2,240,791 $240,791 100% 112%
43,722 43,722 0 17% 17%
52.247 52.247 0 17% 17%
28.939 28,939 (0) 17% 17%
240,029 240,029 0 17% 17%
41.667 41.692 25 17% 17%
83 (83) 17% 0%
10.000 75 (9,925) 17% 0%
333 245 (88) 17% 12%
8 35 27 17% 70%
2,667 710 (1.957) 17% 4%
30 30 17% n/a
2,500 2.168 (332) 17% 14%
8 17% 0%~81
422.204
2,422,204
50,000
41,667
16,667
166,667
41,667
316.667
51,316
28.165
17
79,498
1.200
397,364
2,024,840
409,893
2,650,683
2,006
11,877
135,600
5,439
154,922
158,562
1.142
159,704
366
555
2,292
3,213
55,484
69,009
14,729
139,222
457,061
46.741
20,410
67.151
524,212
2,126,471
!12.312~
228.479
(104,922)
(118,038)
13,454
27,445
41,667
(140,394)
4,575
7,755
17
12,346
1.200
(126,848)
101,631
17% 16%
17% 58%
I %Ex~. I
17% 52%
17% 64%
17% 3%
17% 14%
17% 0%
17% 24%
17% 15%
17% 12%
17% 0%
17% 14%
17% 0%
17% 22%
a)
a)
a)
•
2.533,224 2.533,254 30
4,533,224 4,774,045 240,821
300,000 300.000
250,000 250,000
100,000 100,000
1,000,000 1,000,000
250,000 240,000 10,000
1.900.000 1,890,000 10,000
307,896 307.896
168,990 168,990
100 100
476,986 476.886 100
7.200 7.200
2,384,186 2,374,086 10,100
2,149,038 2,399,959 250,921
Page 13
Budget
Year End
Projection Variance
$2,000,000 $2.240,791 $240,791
262.333 262,333
313,480 313,480
173,635 173,635
1,440.176 1,440,176
250.000 250,000
500 500
60,000 60,000
2.000 2,000
50 50
16.000 16,000
30 30
15,000 15,000
50 50
DESCHUTES COUNTY 911
Statement of Financial Operating Data
Two Months Ended August 31,2012
Year to Date
Actual Variance Variance
RESOURCES:
Beg. Net Working Capital $8,000,000 $ 8,883,086 $ 883,086 100% 111% $8,000,000 $8,883,086 $ 883,086
Revenues
Property Taxes· Current 1,091,281 (1,091,281 ) 17% 0% a) 6,547,687 6,547,687
Property Taxes· Prior 30,833 109,973 79,140 17% 59% 185,000 185,000
Federal Grants 40,000 (40,000) 17% 0% b) 240,000 240,000
State Reimbursement 6,000 (6,000) 17% 0% c) 36,000 36,000
Telephone User Tax 125,000 (125,000) 17% 0% 750,000 750,000
Data Network Reimb. 5,000 (5,000) 17% 0% d) 30,000 30,000
Jefferson County 5,000 276 (4,724) 17% 1% 30,000 30,000
User Fee 7,333 (7,333) 17% 0% 44,000 44,000
Police RMS User Fees 46,492 (46,492) 17% 0% d) 278,950 278,950
Contract Payments 5,167 (5,167) 17% 0% d) 31,000 31,000
Miscellaneous 1,500 1,390 (110) 17% 15% 9,000 9,000
Interest 6,667 8,687 2,020 17% 22% 40,000 40,000
Interest on Unsegregated Tax 100 28 {72~ 17% 5% 600 600
Total Revenues 1,370,373 120,354 (1,250,019) 17% 1% 8,222,237 8,222,237
TOTAL RESOURCES
REQUIREMENTS:
9,370,373 9,003,440 (366,933) 17% 56% 16,222,237 17,105,323 883,086
Expenditures
Personal Services 717,800 674,769 43,031 17%
% Exp·1
16% 4,306,797 3,800,000 506,797
Materials and Services 341,700 292,567 49,133 17% 14% 2,050.202 2,050,202
Capital Outlay 93,667 93,667 17% 0% 562,000 562,000
Transfers Out· Reserve Fund 83,333 83,333 17% 0% e) 500,000 500,000
Contingency 1,467,206 1,467,206 17% nfa 8,803.238 8,803,238
TOTAL REQUIREMENTS 2,703,706 967,336 1,736,370 17% 6% 16,222,237 6,912,202 9,310,035
NET (Resources -Requirements) 6,666,667 8,036,104 1,369,437 . 10,193,121 10,193,121
a) Current year taxes not due until November
b) ODOT Project-reimbursements expected to be received over the next 3-4 months
c) July & August bills have been mailed; ongoing monthly reimbursements from Office of Emergency Mgmt for MSAGfGIS maintenance
d) Annual billings to Police/Fire agencies to be mailed in December
e) Amount appropriated to be transferred September 15, 2012
Page 14
Health Benefits Trust
Statement of Financial Operating Data
Two Months Ended August 31.2012
Actual Variance
Year to Date FY 2013
Budget Projection Variance
RESOURCES
Beg. Net Working Capital $13,800,000 $ 14,551,028 $ 751,028 100% 105% $ 13,800,000 $14,551,028 751,028
Revenues:
Internal Premium Charges 2,132,500 2,133,272 772 17% 17% 12,795,000 12,795,000
prr Emp· Add'i Prem 8,333 5,514 (2,819) 17% 11% 50,000 50,000
Employee Prem Contribution 105.000 105.235 235 17% 17% 630,000 630,000
COIC 216,667 229,434 12.767 17% 18% 1,300,000 1,300,000
Retiree I COBRA Co-Pay 125,000 155,118 30,118 17% 21 % 750,000 750,000
Medical Services Reimb 323 323 17% n/a 323
Interest 13,333 14.169 836 17% 18% 80,000 80,000
Total Revenues 2,600,833 2,643,065 42,232 17% 17% 15,605,000 15,605,323 323
TOTAL RESOURCES 16,400,833 17,194,093 793,260 92% 105% 29,405,000 30,156,351 751,351
REQUIREMENTS
Expenditures:
Personnel Services (all depts) 33,462 32.155 1,307 17% 16% 200,772 200.772
Materials & Services
Claims Paid-Medical 1,671,700 2,027.794 (356.094) 17% 20% a) 10,030,200 11,716,144 (1,885,944)
Claims Paid-Prescription 320,600 322,129 (1,529) 17% 17% a) 1,923,600 1,861,188 62,412
Claims Paid-DentalNision 297,700 286,351 11,349 17% 16% a) 1,786.200 1,654,471 131,729
Refunds (7,881 ) 7.881 17% n/a (7.881) 7,881
Insurance Premiums 58.333 44,339 13.994 17% 13% 350,000 350,000
State Assessments 26,667 89,329 (62.662) 17% 56% 160,000 160,000
Administration Fee 53,333 54,004 (671) 17% 17% 320.000 320,000
Preferred Provider Fee 8,333 8,299 34 17% 17% 50.000 50,000
Health Impact 9,167 8,619 548 17% 16% 55,000 55,000
Other -Administration 10.892 5,284 5,608 17% 8% 65,353 65,353
Other· Wellness 17.500 3.350 14,150 17% 3% 105,000 105,000
Admin & Wellness
Deschutes On-site Clinic
2,474,226 2,841,617 (367,391) 17% 19% 14,845,353 16,329,275 (1,483,922)
Healthstat
Medical Supplies
Equipment
Other
114.000
5.000
167
3.572
100,254
1,984
6,834
13,746
3,016
167
(3,261)
17%
17%
17%
17%
15% b)
7%
0%
32%
684,000
30,000
1.000
21,433
684,000
30,000
1,000
21,433
Total DOC
Deschutes On-site Pharmacy
122,739 109,072 13,667 17% 15% 736,433 736,433
Contracted Services 51,381 50,000 1,381 17% 16% b) 308,287 308,287
Medication and Drugs
Other
166,667
2,760
180,340
2,832
(13,673)
(72)
17%
17%
18% b)
n/a
1,000,000
16.559
1.000,000
16,559
Total Pharmacy
Capital Outlay
Contingency
220,808
17
2,049,583
233,172 (12,364)
17
2,049,583
17%
17%
17%
nla
n/a
nla
1,324,846
100
12,297,496
1,324,846
100
12,297,496
TOTAL EXPEND/REQUIREMNTS 4,680,026 3,216,015 1,684,818 17% 11% 29,405,000 18,591,326 10,813.674
NET (ResoUl'Ce$ • Requirements) 11,720,808 13,978,078 2,478,078
a) Projection based on annualizing 9 weeks of claims paid. YTD actual is $256,251 per week
b) Actual amounts include estimates. Healthstat and Take Care have not yet been paid
11,565,025 11,565,025
Page 15
323
I
Deschutes County -Fair and Expo Center
YTD-Budget Basis Commissioners
Statement of Financial Operating Data
Two Months Ended August 31, 2012
RESOURCES:
Beg. Net Working Capital
Receipts:
Special Events Revenues
Interest
Storage
Camping at F & E
Horse Stall Rental
Concession % -Food
Rights (Signage, etc.)
Interfund Contract
Miscellaneous
Year to Date
Budget (2/12 ofl
annual) I Actual I Variance \ FY % I Coli. %
$ 46,373 $ 35,055 $ (11,318)
101,263 17,176 (84,087)
250 56 (194)
9,574 (9,574)
1,000 (1,000)
5,000 16,262 11,262
31,667 3,523 (28,144)
15,833 16,000 167
3,333 400 (2,933)
1,133 6 ~1.127)
100% 76%
17% 3%
17% 4%
17% 0%
17% 0%
17% 54%
17% 2%
17% 17%
17% 2%
17% nJa
Year End
FY 2013
Budget
Projection Variance
$ 46,373 $ 35,055 $ (11,318)
607,578 585,754 (21,824)
1,500 1,306 (194)
57,441 57,441
6,000 6,000
30,000 46,262 16,262
190,000 188,523 (1,477)
95,000 95,000
20,000 20,000
6,800 6,806 6
Total Receipts 169,053 53,422 (115,631 ) 17% 5% 1,014,319 1,007,091 (7,228)
Transfers In
General Fund (001)
Room Tax (160)
Welcome Center (170)
Annual County Fair (619)
Total Transfers In
TOTAL RESOURCES
28.333
4,291
13,800
44,043
90,467
305,893
28,334
4.290
13,800
46,424
134,901
(44,043)
(44,043)
(170,992)
17%
17%
17%
17%
17%
17%
17%
17%
0%
8%
170,000
25,744
82,800
264,259
542,803
1,603,495
170,000
25,744
82,800
264.259
542,803
1,584,949 (18,546)
REQUIREMENTS:
Expenditures :
Personal Services
Materials and Services
Debt Service
Capital Outlay
Total Expenditures
138,647
84,371
19,020
2,377
244,414
137,062
73,681
9,000
219,743
1,585
10,689
19,020
(6,624~
24,671
I EXp.%!
17% 16%
17"'/0 15%
17% 0%
17% 63%
831,882
506,223
114,119
14,259
1,466,483
830,308
516,649
114,119
14,259
1,475,335
1,574
(10,426)
(8,852)
Contingency 22,835 22,835 17% nfa 137,012 137,012
TOTAL REQUIREMENTS 267,249 219,743 47,507 17% 14% 1,603,495 1,475,335 128,160
NET (Resources Requirements) 38,644 (84,842) {123,486} 109,614 109,614
Page 16
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Deschutes County
North County Services Building
Inception through August 31,2012
ACTUAL
Encumbrances Project to
PROJECTION
& Commitments Date I Budaet· I I Projected I I Variance
RESOURCES:
Beginning Net Working Capital
Loan Proceeds, net of issuance costs 3,400,000 3,400,000
Resources from Fund 140 1,402,013 1,402,013 a) 1,402,013 1,402,013
Resources from Fund 142 25,000 25,000 b) 25,000 25,000
Transfer in 600,000 600,000 700 ,000 700,000
Interest Revenue 4,322 4,322 13,740 13,740
Total Resources 2,031,335 2,031,335 ~540,753 5,540,753
EXPENDITURES:
Materials & SeNices
Architecture/Design 47,610 2,458 50,068 b) 325,000 325,000
Engineering 75 ,000 75,000
Planning
Interfund Charges 4 ,535 4,535 13,150 13,150
Fees, Permits & SDCs 534 534 75,000 75,000
Utilities 10,844 10 ,844 20,000 20,000
Travel -Meals/Mileage Reimb 3 3 3 ~3)
Total Materials &Services 63,525 2,458 65,984 508,150 508,153 ~3)
Capital Outlay
Land and Building 1,402,013 1,402,013 a) 1,402 ,013 1,402,013
Remodel 230 230 3,300,000 3,300,000
Total Capital Outlay 1,402,243 1,402,243 ~02,013 4,702,013
Contingency 313 ,513 313 ,513
Total Expenditures 1,465,768 2,458 1,468,226 5,523,676 5,210,166 (3)
Net 565,567 (2,458) 563,108 17,077 330,587 313,510-
• The project budget is the consolidation of FY 2012 (actual and unexpended budget) and FY 2013 adopted budget
a) The building was purchased in FY 2011 with resources from Project Development and Debt Reserve -$1,402,013
b) $25,000 was paid to the architect in FY 2011 with resources from General County Projects Fund (Fund 142)
"
North County Services Building -Fund 462
ENCUMBRANCES AND COMMITMENTS
Through August 31, 2012
Vendor Description
Commitment
Amount Amount Paid
Balance
Due
BLRB/GGL Architects Architectural Services 50,000 47,542 2,458
50,000 47,542 2,458
., +, ¥~~~'~~~~~~~~~~..~~~~~'~'~.~M~--~4i ." A'" ,.. , ......,,'" • ., "P"" ""p_>.<<< ""' .-'." .,....-,---------_
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Deschutes County
Bethlehem Inn (Fund 128)
Two Months Ended August 31, 2012
Budaet Actual Variance I FY%I CoiL %1 Budaet I Projection I Variance
RESOURCES:
Beg. Net Working Capital $(2,710,000) $(2,710,173) $ (173) 100% 100% $(2,710,000) $(2,710,173) $ (173)
Revenues
Grants -Private 16,765 (16,765) 17% 0% 100,592 100,592
Lease Payments 4,068 6,102 2,034 17% 25% 24,408 24,408
Total Revenues 20,833 6,102 (14,731 ) 17% 5% 125,000 125,000
Transfers In:
Project Development (140) 275,000 (275,000) 17% 0% 1,650,000 1,650,000
Gen Capital Res (143) 176,667 {176,667} 17% 0% 1,060,000 1,060,000
TOTAL RESOURCES (2,237,500) (2,704,071) (466,571) 17% -2163% 125,000 124,827 (173)
REQUIREMENTS: Exp. %1
Expenditures
Debt Service:
I nterest Expense 4,167 2,765 1,402 17% 11% a) 25,000 17,000 8,000
Interest Payment 16,667 16,667 17% 0% 100,000 100,000
TOTAL REQUIREMENTS 20,833 2,765 18,068 17% 2% 125,000 117,000
NET (Resources -Requirements) (2,258,333) (2,706,836) (448,503) b) 7,827 (173)
a) Interest on August 2012 negative cash balance: $1,358.46.
b) Inception through August 31 , 2012
Revenues -Lease Payments $ 54,918
Expenditures:
Land/Building (Amertitle) -July 2007 2,241,313
Hickman Williams 17,578
City of Bend -May 2008 250,000
KN EX CO 5,289
Kleinfelder 3,732
Total expended on facility 2,517,913
Interest on Negative Cash Balance 243,841
Total expended 2,761,754
Net $~2,706,836)
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Deschutes County
General Support Services -BOCC
Conference/Seminar, EducationlTraining and Travel Expenditures
and
BOCC -County College Expenditures
FY 2013
YTD Total
T~mn1}' Baney ____ ___ _
_ ~~nf/Si'm &Ed':!clTraining___
Travel Meals 20·
Accom modations 27 •
Airfare
.--~------.-----..
Mileage reimbursement 384.
~.~~-~.~-
- Groun(rTransport/Parkln~i 35
20
127
384
35
-------~~-----~---..
___ lo~aI~_Cln~~__ _ 566, 566
~Ial!j!nger _______________
.... C~nf/S~m_~_Edu<fr~Clir:lil1J:L 35 35
Travel Meals
Accom modations
~--~.. ..-.. ~,-~..-.-
Airfare
112._~~~agE!!eimburs_E!mE!I"lL_
Ground Transport/Parking
------.~--~.--,~~..-.----..--.-~-.-.
___!~~!l.Inger 35 112 . 147
-r:on~~E!()!!~_____
C0.l"l!,!Sem!.~ju<frr~il"lir:l~
Travel Meals
Accom modations
-.~-.-..--..-----------_..,
Airfare
__~E!Cl~e relm bLJ!sellJE!_I'It_
Ground Transport
._._---_.------" ",._----. --._-----.
Total Other ---..-~..------~..==--=-.. -=-~~:::~=~.------.... T~tal-BOCC Oepartl1l ent. _____ ~_. ____.. _~.___ .__..
~onf/~~IlJ~_Ed':!0rClil"li~____ 35 35 .. -----::--:--... -----20
Travel Meals
Accommodations 127 127 --..---.. ..--------.-----_.. ------..------~ ~
Airfare
_~l'-eageReimbu!~emei1t.._ 496 496
_@round Transpo"L 35
T()tal-=-BOC~ Oep~rtment_________ ~_________ 713
-~--.---.--------.,--".. ~~-.~--
~y 20~I?~dget___________________ __1.§,-25~.
4.7%
BOCC County College
=9ffic~oe~..su~plies_-
Meeting Supplies
Total BOCC County College
9/4/2012
w
0. . ~$ ...~ . .1'.ES ~ o .. 0
-< Deschutes County Administrative Policy No. F-IO
, " Effective Date: January 7, 2008
',.':U Revised Date: June 24, 2009
Revised Date: September 20,2012
INVESTMENT POLICY GUIDELINES
STATEMENT OF POLICY
All Deschutes County investments must be made in accordance with State Law and in accordance with
the Deschutes County Investment Policy. Investment policies must be approved by the State of Oregon
Short·Term Fund Board. This policy is modeled on the investment policy recommended by the Oregon
Short·Term Fund Board and incorporates State Law requirements and restrictions.
APPLICABILITY
This policy applies to all Deschutes County investments.
POLICY AND PROCEDURE
The Deschutes County Treasurer is the portfolio manager. It is the policy of Deschutes County to invest
public funds in a manner which will provide the maximum security while providing liquidity to meet the
daily cash flow demands and receive the highest investment return while conforming to all State Statutes
governing the investment of public funds and this Investment Policy.
SCOPE: This investment policy applies to activities of Deschutes County with regard to investing the
financial assets of all funds for which investment authorization has been given, including but not limited
to the following funds:
A. General Fund
B. Special Revenue Funds
C. Capital Project Funds
D. Enterprise Funds
E. Debt Service Funds
F. Internal Service funds
G. Trust and Agency Funds
Funds held and invested by trustee or fiscal agents are excluded from these rules; however such funds are
subject to the regulations established by the State of Oregon.
Funds of Deschutes County will be invested in compliance with ORS 294 and other applicable statutes.
Investments will be in accordance with this policy and any written administrative procedures. Investment
of any tax-exempt borrowing proceeds and any debt service funds will comply with the "arbitrage"
restrictions of Section 148 of the Internal Revenue Code of 1986.
Funds of other agencies, jurisdictions, district or entities for which the County Treasurer serves as
custodian will not be invested without written authorization from their governing body, and the
Deschutes Board of County Commissioners.
Policy #F-IO. Investment Policy Guidelines Page I of7
OBJECTIVES:
Deschutes County's Investment Objectives are:
Preservation of capital and the protection of investment principal.
Confonnance with Federal, State and other legal requirements.
Maintenance of sufficient liquidity to meet operating requirements.
Diversification to avoid incurring unreasonable risks regarding specific security type or individual
financial institutions.
Attainment of a market rate of return throughout budgetary and economic cycles.
DELEGATION OF AUTHORITY:
The County Treasurer is designated as the Investment Officer for Deschutes County and is responsible
for investment decisions and activities. The investment officer shall be responsible for all transactions
undertaken and shall establish a system of controls to regulate the activities of subordinate officials. The
administration of the cash management program is handled by the County Treasurer who is responsible
to manage the day-to-day operations of the County's investment portfolio, place purchase orders and sell
orders with dealers and financial institutions and prepare reports as required.
INVESTMENT LIMITATIONS:
Specific investment types shall not exceed the percentage of the total investment portfolio indicated
below. All securities are also included on the list of "U.S. Government Agency Securities for Local
Government Investments under ORS 294.035 and 294.040." This list is maintained by the Office of the
Oregon State Treasurer.
Securities issued by a single financial institution (Banker'S Acceptance and Certificates of Deposit) will
be limited to 30% of the total portfolio.
SUITABLE AND AUTHORIZED INVESTMENTS
The following investments will be pennitted by this policy, ORS 294.035 and
294.810:
• U.S. Treasury Obligation (bills, notes and bonds)
• U.S. Government Agency Securities and Instruments of Government
Sponsored Enterprises
• Banker's Acceptances (BA's) from qualified institutions
• State of Oregon Investment Pool
• Certificates of Deposits (CD's)
(Subject to ORS 295 collateralization)
• Certificate of Deposit Account Registry Services (CDARS)
Policy #F-I O. Investment Policy Guidelines Page 2 of7
• Repurchase Agreements
• State and Local Government Securities
• Corporate Indebtedness
PORTFOLIO DIVERSIFICATION
Diversification will be sought within the following guidelines with the purpose of reduction of overall
portfolio risk. The investments shall be diversified by investment type, issuer and maturity:
U.S. Treasury
US Government Agencies
State of Oregon Investment Pool
Certificates of Deposit
Banker's Acceptances
Commercial Paper
State & Local Government Securities
Repurchase Agreements
Corporate Indebtedness
100%
75%
50% in any single government sponsored enterprise
100% or the maximum imposed by statute
25% of tota} portfolio
30% in any single qualified financial institution
25% of total portfolio
30% in any single qualified financial institution
20% of total portfolio
5% in anyone corporation, subsidiaries or affiliates
25% of total portfolio
25% oftotal portfolio
10% in any single qualified financial institution
10% of total portfolio
Maximum 24 month maturity
Note: These limits apply to the total portfolio at the time the Investments are purchased.
COMPETITIVE SELECTION OF BIDS OR OFFERS:
Before the investment officer invests funds, competitive offers or bids will be sought from at least two
institutions, or a decision to invest will be based on data received from at least two institutions. The most
favorable offer or bid will be awarded the transaction.
MATURITY SCHEDULING:
Policy #F-IO, Investment Policy Guidelines Page 3 of7
To the extent possible, the County will attempt to match its investments with anticipated cash flow
requirements.
No investment security shall have a maturity of more than 24 months at the time of purchase, but such
investments are limited to 30% of the total portfolio.
The investment portfolio operates on a policy of buying securities and holding them until their specified
maturity date, but during certain market conditions when it becomes advantageous, the Portfolio Manager
may sell securities prior to their maturity date.
SAFEKEEPING AND COLLATERALIZATION:
Investment securities purchased by the Portfolio Manager will be in safekeeping with the bank's
Investment Division Safekeeping Department. If it is felt necessary to safe keep with a third party, the
Trust Department of the bank will be considered to be a third party for the purpose of safekeeping of
securities purchased from that bank. Another permissible option would be to use a third party bank to
provide safekeeping for all purchased securities. The purchase and sale of all securities will be on a
payment versus delivery basis. The custodian shall issue a safekeeping receipt to the Treasurer listing
the specific instrument, rate, maturity and other pertinent information. All other repurchase agreements
shall require safekeeping and a master repurchase agreement.
Deposit-type securities (Le. certificates of deposit) shall be collateralized through the Collateral Pool
Manager as required by ORS 295.015 for any amount exceeding FDIC coverage. Other investments will
be held by the custodian as evidenced by safekeeping receipts.
QUALIFIED INSTITUTIONS:
The investment officer shall maintain a list of all authorized broker/dealers and financial institutions
which are approved for investment purposes or investment dealings. Any firm is eligible to make an
application to Deschutes County and upon due consideration and approval will be added to the list.
Additions or deletions to the list will be made at the Portfolio Manager's discretion. At the request of
Deschutes County, the firms performing investment services shall provide their most recent financial
statements or Consolidated Report of Condition (call report) for review. Further, there should be in
place, proof as to all the necessary credentials and licenses held by employees of the broker/dealers who
will have contact with Deschutes County as specified by but not necessarily limited to the National
Association of Securities Dealers (NASD), Securities and Exchange Commission (SEC), etc. Deschutes
County shall conduct an annual evaluation of each firm's credit worthiness to determine if it should
remain on the list. Securities broker/dealers not affiliated with a bank shall be required to have an office
located in Oregon and/or be classified as reporting dealers affiliated with the Federal Reserve as primary
dealers.
PRUDENCE:
The standard of prudence to be used by the County Treasurer in the context of managing the overall
portfolio shall be the prudent investor rule, which states, "Investments shall be made with judgment and
care, under circumstances then prevailing, which persons of prudence, discretion and intelligence
exercises in the management of their own affairs, not for speculation, but for investment, considering the
probable safety of their capital as well as the probable income to be derived."
Policy #F-IO, Investment Policy Guidelines Page 4 of7
INDEMNITY CLAUSE:
The County shall defend and indemnify the County Treasurer and staff from personal liability for losses
that might occur pursuant to administering this investment policy as long as the County Treasurer and
staff exercise prudence in accordance with this policy, and act within the boundaries of this Policy.
ETHICS & CONFLICTS OF INTEREST:
Officers and employees involved in the investment process shall refrain from personal business activity
that could conflict with the proper execution and management of the investment program, or that could
impair their ability to make impartial decisions. Employees and investment officials shall disclose any
material interests in financial institutions with which they conduct business. They shall further disclose
any personal financiaVinvestment positions that could be related to the performance of the investment
portfolio. Employees, officers and their families shall refrain from undertaking personal investment
transactions with the same individual with whom business is conducted on behalf of the County.
Officers and employees shall, at all times, comply with the State of Oregon Government Standards and
Practices code of ethics set forth in ORS 244.
PERFORMANCE EVALUATION:
The performance of the County's portfolio shall be measured against the performance of the Oregon
Local Government Investment pool, and the three-month and twelve-month Treasury Bills.
ACCOUNTING METHOD:
Deschutes County shall comply with all required legal provisions and Generally Accepted Accounting
Principles (GAAP). The accounting principles are those contained in the pronouncements of
authoritative bodies including but not necessarily limited to, the American Institute of Certified Public
Accountants (AICPA); the Financial Accounting Standards Board (FASB); and the Government
Accounting Standards Board (GASB).
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An investment fee of 5% of the total interest earned on all invested funds will be deducted and credited
to the County Finance Internal Service Fund each month. After deducting the investment fee, interest
earnings will be credited on the last day of each month to the funds from which the investments were
made based on the average daily balance in the fund.
INTERNAL CONTROLS
The investment officer is responsible for establishing and maintaining an adequate internal structure
designed to reasonably protect the assets of the County from loss, theft or misuse. The concept of
reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be
derived and (2) the valuation of costs and benefits requires estimates and judgments by management.
Accordingly, the investment officer shall establish a process for an annual independent review by an
external auditor to assure compliance with policies and procedures. The internal controls shall address
the following points:
-Control of collusion.
Policy #F-lO, Investment Policy Guidelines Page 5 of7
-Separation of transaction authority from accounting and record
keeping.
-Custodial safekeeping
-Avoidance of physical delivery of securities whenever possible
and address control requirements for physical delivery where
necessary.
-Clear delegation of authority to subordinate staff members.
-Written confirmation of transactions for investments and wire
transfers. t
-Compliance and oversight with investment parameters including I
diversification and maximum maturities. i.
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REPORTING REQUIREMENTS:
The Deschutes County Treasurer will provide a monthly report to the County Commissioners and the
County Administrator. This report will include but not necessarily be limited to: portfolio activity,
individual securities held at the end of the reporting period, average weighted yield to maturity of
portfolio on investments as compared to applicable benchmarks, and investments by maturity date.
Additionally, in accordance with Generally Accepted Accounting Principles, investments are reported in
the County's Comprehensive Annual Financial Report at market value. ItREVIEW: f
This policy shall be reviewed and modified, if appropriate, by the Deschutes County Board of
Commissioners or if market changes warrant review. Annual readoption by the reviewing authority is I
required by ORS 294.135a. In addition an Investment Committee consisting of five members will meet
and review any changes to this Policy. This committee will consist of one County Commissioner and
four additional members with backgrounds such as a Banker, Security Broker, Controller/Chief Financial
Officer, or Government Finance Manager.
AUTHORIZED FINANCIAL INSTITUTIONS:
BANKS
Bank of America Merrill Lynch
Bank of the Cascades
Chase Bank
Columbia State Bank
Home Federal Bank
Key Bank
PremierWest Bank
Sterling Savings Bank
South Valley Bank & Trust
Policy #F-IO. Investment Policy Guidelines Page6of7
OTHER
Umpqua Bank
Union Bank
US Bank
Wells Fargo
CastleOak Securities, L.P.
Oregon Local Government Investment Pool
Piper Jaffray
RBC Wealth Management
Seattle-Northwest Securities Corporation
UBS Financial Services
Approved by the Deschutes County Board of Commissioners September 24,2012.
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Erik Kropp
Interim County Administrator
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Policy #F-lO, Investment Policy Guidelines Page 7 of7
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·Deschutes County Administrative Policy No. 1"-10
Effective Date: January 7, 2008
Revised Date: June 24, 2009
Revised Date: DeeefB~eF 13, 20 •!June 4. 2012
INVESTMENT POLICY GUIDELINES
STATEMENT OF POLlCY
All Deschutes County investments must be made in accordance with State Law and in accordance with
the Deschutes County Investment Policy. Investment policies must be approved by the State of Oregon
Short-Tenn Fund Board . This policy IS modeled was EIestg!te6 on the after tll~ mallei investment policy
recommended by the Oregon Short-Tenn Fund Board and incorporates State Law requirements and
restrictions , and _ has been approved by the Oregon Short-Tenn Fund Board.
APPLICABILITY
This policy applies to all Deschutes County investments.
POLICY AND PROCEDURE
The Deschutes County Treasurer is the portfolio manager. It is the policy of Deschutes County to invest
public funds in a manner which will provide the maximum security while providing liquidity to meet the
daily cash flow demands and receive the highest investment return while confonning to all State Statutes
governing the investment of public funds and this Investment Policy.
SCOPE: This investment policy applies to activities of Deschutes County with regard to investing the
financial assets of all funds for which investment authorization has been given, including but not limited
to the following funds :
A. General Fund
B. Special Revenue Funds
C. Capital Project Funds
D. Enterprise Funds
E. Debt Service Funds
F. Internal Service funds
G. UR5egregated Ta'l AEeeliBI
H. Celifl~ Sef\ iee Di5lfiel ~r:ls
I.G. Trust and Agency Funds
Funds held and invested by trustee or fiscal agents are excluded from these rules; however such funds are
subject to the regulations established by the State of Oregon .
Funds of Deschutes County will be invested in compliance with ORS 294 and other applicable statutes.
Investments will be in accordance with this policy and any written administrative procedures. Investment
of any tax-exempt borrowing proceeds and any debt service funds will comply with the "arbitrage"
restrictions of Section 148 of the Internal Revenue Code of 1986 .
Cash 'n ill ae ea Rlif!gler:l fer if!' htRleAI e!lllertI:lAllies. Other IhflflIlBHr:l !lreeeed5 or olheF IiAusual
situatiaH5 , the letal of all foods Faf!ges rrolJl SSg ,GGG,GOO 19 SJSG ,QOII.GOfl 9\ er Iftt! fiseal year.
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Funds of other agencies, jurisdictions, district or entities for which the County Treasurer serves as
custodian will not be invested without written authorization from their governing body, and the
Deschutes Board of County Commissioners.
OBJECTIVES:
Deschutes County's Investment Objectives are:
Preservation of capital and the protection of investment principal.
Conformance with Federal , State and other legal requirements.
Maintenance of sufficient liquidity to meet operating requirements.
Diversification to avoid incurring unreasonable risks regarding specific security type or individual
financial institutions.
Attainment of a market rate of return throughout budgetary and economic cycles.
DELEGATION OF AUTHORlTY :
The County Treasurer is designated as the Investment Officer for Deschutes County and is responsible
for investment decisions and activities. The investment officer shall be responsible for all transactions
undertaken and shall establish a system of controls to regulate the activities of subordinate officials. The
administration of the cash management program is handled by the County Treasurer who is responsible
to manage the day-to-day operations of the County's investment portfolio, place purchase orders and sell
orders with dealers and financial institutions and prepare reports as required .
INVESTMENT LIMITATIONS :
Specific investment types shall not exceed the percentage of the total investment portfolio indicated
below. All securities are also included on the list of "U.S. Goverrunent Agency Securities for Local
Government Investments under ORS 294 .035 and 294 .040." This list is maintained by the Office of the
Oregon State Treasurer.
Securities issued by a single financial institution (Banker's Acceptance and Certificates of Deposit) will
be limited to 30% of the total portfolio.
SUITABLE AND AUTHORIZED INVESTMENTS
The following investments wii'l be permitted by this policy, ORS 294 .035 and
294.810:
• U.S . Treasury Obligation (bills , notes and bonds)
• U.S. Government Agency Securities and Instruments of Government
Sponsored Enterprises
• Banker's Acceptances (BA's) from qualified institutions
• State of Oregon Investment Pool
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• Certificates of Deposits (CD's)
(Subject to ORS 295 collateralization)
• Certificate of Deposit Account Registry Services (CDARS)
• Repurchase Agreements
• State and Local Government Securities
• Corporate Indebtedness
Note: These limits apply to the total portfolio at the time the Investments are purchased.
PORTFOLIO DIVERSIFICA nON
Diversification will be sought within the following guidelines with the purpose of reduction of overall
portfolio risk. The investments shall be diversified by investment type, issuer and maturity:
u.S. Treasury 100%
US Government Agencies 75%
50% in any single government sponsored enterprise
State of Oregon Investment Pool 100% or the maximum imposed by statute
Certificates of Deposit 25% of total portfolio
30% in any single qualified financial institution
Banker's Acceptances 25% of total portfolio
30% in any single qualified financial institution
Commercial Paper-It GeFJI9fa1e t>I9les 20% of total portfolio
5% in anyone corporation, subsidiaries or affiliates
State & Local Government Securities 25% of total portfolio
Repurchase Agreements 25% of total portfolio
10% in any single qualified financial institution
Corporate Indebtedness 10% of total portfolio
Max imum +8 ~onth maturity Comment [11]: Change to 24 month
maturity
Note: These limits apply to the total portfolio at the time the Investments are purchased.
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COMPETITIVE SELECTION OF BIDS OR OFFERS:
Before the investment officer invests funds, competitive offers or bids will be sought from at least two
institutions, or a decision to invest will be based on data received from at least two institutions. The most
favorable offer or bid will be awarded the transaction.
MATURITY SCHEDULING:
To the extent possible, the County will attempt to match its investments with anticipated cash flow
requirements.
No investment security shall have a maluritv of more than 24 months, at the time of purchase, but such
investments are limited to 30% of the total ponfolio.
1'16 in'leslHlefll seetllit)' shall have a matl;lAt} er meR I-IHm 18 meRllls. ',.,'jtll Ihe e-NeeplieR Illat a l'IIB*imtu"
6f2()·~ erthe letal pBFI!6lie ffifl,·IReiliEle ifl' estmeRts lIeYElfiei 18 meRths. bill flel mere 1I111f1 21 Rlenlfl5.
The investment portfolio operates on a policy of buying securities and holding them until their specified
maturity date, but during certain market conditions when it becomes advantageous. the Portfolio Manager
may sell securities prior to their maturity date.
SAFEKEEPfNG AND COLLATERALIZATION:
Investment securities purchased by the Portfolio Manager will be in safekeeping with the 8!;!.ank's
Investment Division Safekeeping Department. If it is felt necessary to safe keep with a third party , the
Trust Department of the bank will be considered to be a third party for the purpose of safekeeping of
securities purchased from that bank. Another permissible option would be to use a third party bank to
provide safekeeping for all purchased securities. The purchase and sale of all securities will be on a
payment versus delivery basis. The custodian shall issue a safekeeping receipt to the Treasurer listing
the specific instrument, rate, maturity and other pertinent information. All other repurchase agreements
shall require safekeeping and a master repurchase agreement.
Deposit-type securities (i.e . certificates of deposit) shall be collateralized through the Collateral Pool
Manager as required by ORS 295.015 for any amount exceeding FDIC coverage. Other investments will
be held by the custodian as evidenced by safekeeping receipts.
QUALIFIED INSTITUTIONS :
The investment officer shall maintain a list of all authorized broker/dealers and financial institutions
which are approved for investment purposes or investment dealings. Any firm is eligible to make an
application to Deschutes County and upon due consideration and approval will be added to the list.
Additions or deletions to the list will be made at the Portfolio Manager's discretion. At the request of
Deschutes County, the firms performing investment services shall provide their most recent financial
statements or Consolidated Report of Condition (call report) for review . Further, there should be in
place, proof as to all the necessary credentials and licenses held by employees of the broker/dealers who
will have contact with Deschutes County as specified by but not necessarily limited to the National
Association of Securities Dealers (NASD), Securities and Exchange Commission (SEC), etc . Deschutes
County shall conduct an annual evaluation of each firm's credit worthiness to determine if it should
remain on the list. Securities broker/dealers not affiliated with a bank shall be required to have an office
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located in Oregon and/or be classified as reporting dealers affiliated with the Federal Reserve as primary
dealers.
PRUDENCE:
The standard of prudence to be used by the County Treasurer in the context of managing the overall
portfolio shall be the prudent investor rule, which states, "Investments shall be made with judgment and
care, under circumstances then prevailing, which persons of prudence, discretion and intelligence
exercises in the management of their own affairs, not for speculation, but for investme.nt, considering the
probable safety of their capital as well as the probable income to be derived."
INDEMNITY CLAUSE:
The County shall defend and indemnity the County Treasurer and staff from personal liability for losses
that might occur pursuant to administering this investment policy as long as the County Treasurer and
staff exercise prudence in accordance with this policy, and act within the boundaries of this Policy.
ETHICS & CONFLICTS OF INTEREST :
Officers and employees involved in the investment process shall refrain from personal business activity
that could conflict with the proper execution and management of the investment program, or that could
impair their ability to make impartial decisions . Employees and investment officials shall disclose any
material interests in financial institutions with which they conduct business. They shall further disclose
any personal financiallinvestment positions that could be related to the performance of the investment
portfolio. Employees, officers and their families shall refrain from undertaking personal investment
transactions with the same individual with whom business is conducted on behalfofthe County.
Officers and employees shall, at all times , comply with the State of Oregon Government Standards and
Practices code of ethics set forth in ORS 244.
PERFORMANCE EVALUATION:
The performance of the County's portfolio shall be measured against the performance of the Oregon
Local Government Investment pool, and the three-month and twelve-month Treasury Bills.
ACCOUNTING METHOD:
Deschutes County shall comply with all required legal provisions and Generally Accepted Accounting
Principles (GAAP). The accounting principles are those contained in the pronouncements of
authoritative bodies including but not necessarily limited to , the American Institute of Certified Public
Accountants (AICPA); the Financial Accounting Standards Board (FASB); and the Government
Accounting Standards Board (GASB).
An investment fee of 5% of the total interest earned on all invested funds will be deducted and credited
to the County Finance Internal Service Fund each month. After deducting the investment fee, interest
earnings will be credited on [he a last day of each month to the funds from which the investmen ~
were made based on the average daily balance in the fund.
INTERNAL CONTROLS
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The investment officer is responsible for establishing and maintaining an adequate internal structure
designed to reasonably protect the assets of the County from loss, theft or misuse. The concept of
reasonable assurance recognizes that (I) the cost of a control should not exceed the benefits likely to be
derived and (2) the valuation of costs and benefits requires estimates and judgment s by management.
Accordingly, the investment officer shall establish a process for an annual independent review by an
external auditor to assure compliance with policies and procedures. The internal controls shall address
the following points:
-Control of collusion.
-Separation of transaction authority from accounting and record
keeping.
-Custodial safekeeping
-Avoidance of physical delivery of securities whenever possible
and address control requirements for physical delivery where
necessary.
-Clear delegation of authority to subordinate staff members .
-Written confinnation of transactions for investments and wire
transfers.
-Compliance and oversight with investment parameters including
diversification and maximum maturities.
REPORTfNG REQUfREMENTS:
The Deschutes County Treasurer will provide a monthly report to the County Commissioners and the
County Administrator. This report will include but not necessarily be limited to: portfolio activity,
individual securities held at the end of the reporting period, average weighted yield to maturity of
portfolio on investments as compared to applicable benchmarks, and investments by maturity date.
Additionally, in accordance with Generally Accepted Accounting Principles, investments are reported in
the County's Comprehensive AmlUal Financial Report at market value.
REVIEW:
This policy shall be reviewed and modified, if appropriate , by the Deschutes County Board of
Commissioners or if market changes warrant review . Annual readoption by the reviewing authority is
required by ORS 294 .135a . In addition an lnvestment Committee consisting of five members will meet
and review any changes to this Policy. This committee will consist of one County Commissioner and
four additional members with backgrounds such as a Banker, Security Broker, Controller/Chief Financial
Officer, or Government Finance Manager.
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AUTHORIZED FINANCIAL INSTITUTIONS:
BANKS
Bank of America -Merrill Lynch
Bank of the Cascades
Chase Bank
Columbia State Bank
Home Federal Bank
Key Bank
PremierWes t Bank
Sterling Savings Bank
South Valley Bank & Trust
Umpqua Bank
Union Bank
US Bank
Wells Fargo
OTHER
CastleOak Securi ties , L.P .
Oregon Local Government Inves tment Pool
Piper Jaffray
RBC Wealth Management
Seattle-Northwest Securities Corporation
UBS Financial Services
Approved by the Deschutes County Board of Commiss ioners March 2, 2011.
Erik Kropp
Interim County Admini strator
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