2019-03-27 Auditor-Treasurer UpdateAuditor / Treasurer Update
March 27, 2019
10:31 a.m.
Present: Commissioner Jackson, Commissioner Stamper, Commissioner Fund, County Manager Erik
Martin, Becky Butler, Rodney Reynolds, Suzette Smith
Guest: Linda Williams
Recorder: Rieva Lester
Rodney Reynolds said LGIP yields are starting to flatten out. He said the county holds a lot of investment
money for other districts.
Becky asked how close the office is to providing the revenue information it used to provide. Rodney said
revenue is not yet ready. He said 2018 information still is being loaded into Munis.
Commissioner Jackson asked what the Treasurer’s Office is doing to fix the problem. Rodney said he
came in the previous weekend and that staff is working extra hours and weekends to get caught up on
reconciliations.
Rodney discussed the work that goes into creating financial systems. Rodney said Munis implementation
has caused hiccups.
Rodney said the current inverted yield curve may indicate a recession is likely. He said there likely will be
downward pressure on the county’s investment yields. Rodney said the 10-year Treasury note still has a
higher yield than a two-year note, but that if it drops below the 10-year note, it’s very likely a recession
is looming.
Becky Butler discussed the shallow recession that experts have been cautioning about.
Suzette Smith reviewed expenditures.
Commissioner Stamper left at 10:47 a.m.
Suzette said Staples is again reorganizing, which could cause hiccups for offices and departments.
Suzette said payroll implementation will kick off July 1.
Suzette said her new-hires are doing a fantastic job.
Suzette said everything seems to be going well with the Elections and Licensing & Recording offices.
Meeting ended at 10:57 a.m.