Investments & Banking Updates

by on July 27, 2009

With today’s economy good news is always welcomed, especially when it comes to ones investments.

The Muskingum County Commissioners got just that today when it comes to the county’s investments.

“Right now were at about 40% of our budgeted number which was $1 million by years end I expect our total earnings will be around $1.2 million. A little bit better than I expected, the budgeted number of $1 million is where I thought we would come in, so additional income will be helpful.”

The good news of being ahead of budget means more money to be placed into the county’s general fund that is used to benefit the community. The county commissioners also opened bids for what banks the county will place their active funds in. Says County Treasurer Phil Murphy.

“Those funds would be anything that goes through the county checking account, I had estimated that the maximum that we would have in that account at any one time would be $30 million. The bids that received today for those services were from 5 local institutions, first was People’s Bank, then we had Century, the Community Bank, Huntington as well as National City.”

The commissioners haven’t made their decision on what banks to go with just yet. But county treasurer Phil Murphy said they could be staying with the same three they are currently with.

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