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March 17, 2016 <br />Page 3 of 4 <br />Department. The monitoring of the contracts and preparing of <br />the financial data for the committee are currently performed by <br />this position for Public Health and Development Disability <br />funds. The auditor’s office would still audit the payments to <br />the contracts and the receipt of the funds collected and <br />preparing the year-end financial reports. In communication with <br />the Public Health administrator and the Fiscal Analyst, adding <br />these tasks to the current job description would not cause a <br />burden on the position and matches the job current job skills of <br />the position. The Board did not have an issue and said to <br />proceed and thought it was a great idea. <br />Investment of funds <br />Treasurer Brett Wachsmith presented a summary of the Investment <br />Portfolio Earnings Summary for the months January and February <br />for 2016 with comparisons of 2013, 2014, and 2015. Also, <br />presented were the investment earnings for the years 2012 <br />through 2015. Wachsmith also noted that in the past Kittitas <br />County invested on a “fund by fund” method, and are <br />transitioning to a “pooling” method. In 2015, he began to move <br />money from the State Local Group Investment Pool, to purchasing <br />bonds on the open market. <br />Debt Financing Options <br />Treasurer Wachsmith stated he was working with Public Financial <br />Management (PFM) to gather the information on the proposed <br />financing options. After a conversion with PFM, he stated they <br />deemed financing for 12 years and less as short term. <br />Discussion occurred about financing options. Commissioner <br />Jewell requested a clear definition between GO Bond and a <br />Revenue Bond. Wachsmith stated he would get that for the <br />Board. <br />Admissions Tax <br />Budget and Finance Manager Pless, showed the Board the County’s <br />website for the implementation for the Admissions tax. Pless <br />said it was a collaborative effort with the Information <br />Technology Department; Andrew Drain, Jim Goeben and Jason <br />Eklund; County Treasurer, Brett Wachsmith and herself. The <br />Board acknowledged all the effort and said it looked really easy <br />to utilize. <br />Pless asked if they Board wanted to prepare a press release, and <br />they stated the press release should come from the Treasurer.