News-Sentinel.com Your Town. Your Voice.
Local Business Search
Stock Summary
Dow18080.1421.45
Nasdaq5092.0836.02
S&P 5002117.694.76
AEP57.880.98
Comcast59.640.41
GE26.80-0.05
Exelis24.61-0.06
LNC57.32-0.86
Navistar30.160.41
Raytheon108.35-0.2
SDI21.86-0.12
Verizon50.03-0.02

Low interest rates continue county's investment slide

Saturday, January 26, 2013 - 12:01 am

Continued declines in interest rates continue to weaken Allen County government's bottom line.

County Treasurer Sue Orth reported Friday that the county's investments generated $350,320 in interest in 2012, down from $598,988 in 2011. As recently as 2007, the county had been earning more than $8.4 million in interest annually.

“It's been devastating,” Orth told the County Commissioners in her annual report, noting rate increases are not expected for at least two years.