Nichole Hannahs

Interest Income Falls Short

by Nichole Hannahs on January 24, 2013 at 6:33 am

Interest income for Muskingum County fell short of projections.

The County Treasurer said that the projections were 20-25,000 less than what was actually made. Friel said their interest income is based on what the stocks and money market accounts are doing can affect how much they earn in interest. She said they’ll continue to watch the markets.

"We’ll look at our fees that impact the bottom line and watch our investments," explained Friel. "We’ll see who has the best interest rates and that does require movement of money."

The county also issued a note to the sewer department that will earn more interest than what they were making on investment accounts.

"It’s an annual payment and that won’t happen until December of this year. Every year that’s when they make their payment," said Friel.

Friel said that since the payment won’t happen till December it will be difficult comparing finances from January of last year to January of this year, but by the end of 2013 it should equal out.