Commissioners Receive Update on County Investments

by Mark Bullion on September 22, 2011 at 4:27 am

The Muskingum County Commissioners received an update on the county’s investments Thursday afternoon.

Jody Spencer with Century National Bank provided the commissioners an extensive outline of how the county’s investments are doing which are holding up pretty well given the economy.

"Our yield is on average about 1.27 percent which in today’s world in the financial market that’s pretty decent," said Commissioner Jerry Lavy.

Lavy says the commissioners are looking into transferring some funds out of a money market account and rolling the funds into a CDARS account which is a F.DI.C. insured certificate of deposit.

"The interest rates are paying nothing practically so whatever you can get at a higher rate, if it’s a quarter percent, tenth of a percent, anything is better," said Lavy.

Century National Bank manages most of the trust funds for the county. The county also has investments with The Community Bank as well as Huntington Bank.