Five questions for treasurer candidate Lisa Fraizer

1. Why are you running for office?

I am honored to say that I am currently celebrating 42 years of public service to Mason County, the last 22 years serving Mason County as Treasurer.  I am running for office again, because I want to continue to share the knowledge I have learned over the years, and continue to learn and to provide a difference at the local level of government. 

2. What are the biggest challenges facing the Treasurer’s Office in the next term?

The Treasurer’s Office provides essential services in connection with the financial operations of local government, including the State, County, City, and Junior Taxing Districts (i.e. schools, fire, hospital and ports).   Accounting for all funds, administering debt financing, cash management, investments and banking services with limited resources is always a challenge.   However, the biggest challenges for the Treasurer’s Office often comes from new legislation passed at the State level that affects how property taxes are billed and collected, or how streams of revenue are distributed and how to implement those changes effectively.

3. Can you tell us where the county’s money is currently invested and is there any plan to change that?

The County Treasurer invests those funds not needed for immediate expenditure pursuant to the Mason County Investment Policy and State Statute.  Public funds are invested in a manner that will provide maximum security while meeting the daily cash flow demands of the County while providing a market rate of return through budgetary and economic cycles.   The Treasurer invests funds with Washington State Local Government Investment Pool and through other investments vehicles such as US Treasury Bills, US Agency Securities and Certificates of Deposit.  The public can find quarterly Finance Committee reports which include investment activity posted on the counties website under the County Finance Committee page.  As the County Treasurer is directed by State Statute as to what types of investments public funds can be invested in, there is no plan to change the current structure, as investments mature and purchased the portfolio is ever evolving with the markets. 

4. What is the current status of the county’s finances? What are you proud of and what could be improved?

Mason County is currently in good financial condition.   I am most proud of my work with the County Board of Commissioners, their Budget and Finance department and the County Auditor’s Office in implementing a Financial Reserve and Contingency Policy in Mason County.  As County Treasurer I chair the Mason County Finance Committee and am part of the Mason County Audit Committee.  These two committees meet regularly to keep abreast of financial issues as they arise throughout the year and work to recommend changes if necessary timely so to keep current with the needs of the county. 

5. How does inflation impact the Treasurer’s office and the county budget?

Inflation impacts the Treasurer’s office and the county budget in the same way it affects the public. The higher costs of goods and services impact expenditures that were budgeted for a year ago.  Under State Statute the county can only increase its property tax revenue by 1% plus new construction annually if approved by the County Commission.  That doesn’t keep up with the rise in expenditures associated with inflation.  The County then has to look at increasing fees for services to meet the costs of providing services which is then passed on to the public – it is a inflation is vicious circle no matter whether it’s the public or private sector.