Treasurer reports strong collections and rising interest earnings; Virginia Investment Pool outlines options

Treasurer Abby Carlton told the Board the office has maintained strong collection rates for real estate and personal property taxes—citing a 98.32% collection rate for the 2025 second half real estate billing and 95.35% for the 2026 first half. She summarized recent delinquent tax auction results that recovered $71,592.95 of $72,697.16 in penalty and interest and produced $693,000 in high bids.

Carlton also detailed interest‑earnings growth in recent years—$352,766.39 in 2023, $466,436.25 in 2024 and $529,758.60 in 2025—explaining higher market rates contributed to revenue increases. The board discussed having the Virginia Investment Pool (VIP) present; Robert Lauterberg of VML/VIP described VIP's three investment options (stable NAV liquidity pool, fixed‑term portfolios and a 1–3 year bond fund), governance, asset size and recent rates. Lauterberg said the liquidity option was set at 3.8% (as of the prior Friday) and a 12‑month fixed‑term portfolio was advertised at 4.12% and closed at 4.36%.

"This is a really good news story," Lauterberg said, describing VIP as a governmental trust used by nearly 200 political subdivisions, and noting VIP's funds are managed by an SEC‑registered adviser. Treasurer Carlton said the county would continue to budget conservatively for investment returns while using returns as a revenue source where appropriate.