Treasurer proposes personnel reallocations and describes new investment pool fee structure

Deborah Gardner, County Treasurer, briefed commissioners on proposed budget adjustments for the treasurer's office, personnel reallocation across funds, and the operation of the county investment pool.
Gardner said she manages three funds — the general fund, treasurer O&M (foreclosure and related costs) and the treasurer investment fund. To reduce general-fund pressure she proposed changing combo codes so portions of the treasurer's and chief deputy salaries are charged to the O&M and investment funds. If a pending personnel reclassification is approved, a position would be split 50/50 between general fund and treasurer O&M to better reflect workload and reduce general-fund expense; Gardner estimated the change would save the general fund roughly $43,000 and a larger savings (about $89,000) if the personnel change is approved through the personnel process.
Gardner described the treasurer investment pool, created in 2023 to give participants pooled investment management and to share the SymPro software and adviser costs across participants. She said participants (about 150 funds across districts, ports, schools and county funds) pay a fee that covers the pool's operating costs; Gardner said the office will adjust the participant charge annually to match expected expenditures and cash-flow needs. She also noted expected increases in postage and supply costs and a plan to move a payroll allocation (65,000 previously transferred into the investment fund) to a 50/50 payroll split beginning January 1, 2026.
Why it matters: personnel coding shifts and the pooled investment structure affect future general-fund obligations and participant fees; county partners in the pool share costs for investment advisory services and software.
Discussion vs. direction vs. decision: Treasurer presented proposed personnel and combo-code changes (discussion/proposal); she said the personnel change will be brought back to the board in October and requires the personnel process for approval. No personnel action was approved at the workshop.
Ending: Gardner said she will return in October with details on the personnel change and that the investment pool fees will be adjusted annually to cover expenses and cash-flow requirements.