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Commissioners direct FIT and CVET payments to county general to simplify settlement

Jefferson County Board of Commissioners ยท November 8, 2025

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Summary

Following a recommendation from the county auditor, Jefferson County commissioners voted to aggregate Financial Institution Tax (FIT) and Commercial Vehicle Excise Tax (CVET) distributions into the county general fund. The move is intended to avoid dispersing relatively small amounts across many funds and simplify settlement accounting.

Jefferson County commissioners voted Nov. 7 to follow the auditor's recommendation to direct Financial Institution Tax (FIT) and Commercial Vehicle Excise Tax (CVET) distributions into the county general fund.

Auditor staff explained recent legislative changes require the legislative body to designate which fund(s) should receive FIT and CVET deposits. Jefferson County estimated the distributions at roughly $24,000 per installment (paid twice yearly), for approximately $50,000 annually. The auditor recommended consolidating those receipts into county general because allocating small amounts across many tax-driven funds leaves administrative burdens and trivial per-fund balances.

A commissioner moved to follow the auditor's recommendation and direct the FIT/CVET amounts to county general; the board approved the motion by voice vote. County staff said the state deposited the first installment the day before the meeting and that the formal board vote was required to complete the designation.

Ending: County administration and the auditor will record the fund designation for settlement and continue routine reporting.