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In this episode of ClackCo Works, Clackamas County Treasurer Brian Nava explains how his office keeps the county’s finances running smoothly. He describes the Treasurer’s Office as the county’s bank, managing a $2 billion budget, investing funds safely, and making sure property tax dollars reach over 120 local districts like schools and fire departments. Nava also talks about the importance of transparency, regular audits, and the checks and balances that come with his role. Listeners will get a behind-the-scenes look at how their tax dollars are managed and why the Treasurer’s Office is so important to the community. Tune in to discover how a dedicated team protects and grows Clackamas County’s resources.
Transcript
Dylan: Welcome to ClackCo Works, where we chat with the people who make Clackamas County work for their community. I'm Dylan Blaylock with Clackamas County Public Affairs. Today, for our 10th episode, we have one of our elected officials, Brian Nava, the county Treasurer. Thanks for being here.
Brian: Thanks for having me.
Dylan: First question, the big one—what does the Treasurer's Office actually do at Clackamas County?
Brian: I get that question a lot. My elevator speech is: we are the bank for Clackamas County. Anything your bank does for you, we do for the county, but on a $2 billion scale. I also serve as the chief investment officer and the internal audit administrator.
Dylan: And you distribute the money?
Brian: Correct.
Dylan: What exactly do you mean by being the bank for the county? I assume you hold a lot of the money the county has and receives.
Brian: Absolutely. Every penny that comes in goes to a bank account held by the treasurer's office. Every penny that goes out goes through that same account to perform county functions. We also handle property tax collection, which is a separate function. The tax assessor collects the funds, and then we send it out to over 120 taxing districts.
Dylan: You mentioned the county is around a $2 billion organization. Does all that money go into one big account?
Brian: We have over 20 bank accounts, work with the local government investment pool, and have several money market accounts. We work with local banks, so when you pay your property taxes, that money is held and distributed through these accounts, and it helps support local lending as well.
Dylan: Do you have so many different accounts because the money has to be dedicated for specific purposes, like health clinics?
Brian: Yes and no. There's a difference between bank accounts and funds. We have different funds dedicated to specific functions, like the general fund, Department of Transportation fund, and Health, Housing, and Human Services fund. The interest we earn gets distributed to those funds to help pay for services like parks and libraries.
Dylan: You also do investments for the county. What are those like? Is it stocks, mutual funds, or something else?
Brian: Our investments are governed by Oregon Revised Statute 294 and our investment policy, which is reviewed annually. We focus on super safe investments—Federal Home Loan Bank, Treasury coupons, and other highly rated securities. Safety of principal is our number one priority.
Dylan: And by earning more interest, you can put more money back into services for the people of Clackamas County?
Brian: Absolutely. If we just left everything in a checking account, we'd earn very little interest. By investing wisely, we can earn more and have more funds for county services.
Dylan: On property taxes, only about $175 or $180 million comes from property taxes. You talked about special districts—what are those, and how do you get money to them?
Brian: There's a key distinction. We hold county funds and funds for eight component units, and distribute them based on county orders. Property taxes are collected by the assessor, held in a separate account, and then distributed monthly (and weekly in November) to over 120 taxing districts—like police, fire departments, school districts, levies, and bonds. The county and its components are just nine of those 120+ districts.
Dylan: The assessor calculates how much people pay in property taxes, and then the money goes to you to distribute to the right people?
Brian: Correct.
Dylan: Most people don't realize the county only gets about 18% of property taxes. Where does most of it go?
Brian: Most goes to school districts—they're the biggest recipients. The county gets about 18%, and school districts get around 43%.
Dylan: Another interesting thing you do is the internal audit function. What does that operation do?
Brian: In 2015, I became the county's first internal auditor. The internal audit does assurance, advisory, and investigative services. The treasurer serves as the internal audit administrator, and there's an oversight committee. All reports are public and available online.
Dylan: What's an example of a report? Did they do something on the courthouse recently?
Brian: Yes, one of the more recent audits was on the county courthouse project. It was an on-time audit, reviewing the public-private partnership agreement and working with contractors and county teams. The audit provided recommendations to help the project move forward efficiently.
Dylan: Who pays for the Treasurer's Office?
Brian: We're funded by a mix of general funds and an investment fee—one basis point based on the funds we hold. If we outsourced these services, it would cost much more. We're a small department—just seven people—but very efficient.
Dylan: Why is the Treasurer's Office important? Why should it be an elected position?
Brian: It's about checks and balances. Of Oregon's 36 counties, 27 have elected treasurers. I report directly to the public, so if anything questionable happens, I'm accountable to the people. It's similar to the state structure, ensuring transparency and accountability.
Dylan: So the board decides where the money goes, and you make sure it's there and everything is in order?
Brian: Exactly. The board of county commissioners issues county orders, and the treasurer's office pays vendors, contractors, and grantees based on those orders. It's a system of checks and balances.
Dylan: What's one thing you wish more people knew about the Treasurer's Office?
Brian: The most important thing is that their funds are safe. Our priorities are safety, liquidity, and yield—in that order. We're always working to ensure the safety of public funds.
Dylan: Great. Brian Nava is the Clackamas County Treasurer, one of the 11 elected officials. Thanks so much for being here.
Brian: Thank you.