News-Sentinel.com Your Town. Your Voice.
Local Business Search
Stock Summary
Dow17356.00160.58
Nasdaq4624.1157.97
S&P 5002013.4518.8
AEP58.460.19
Comcast55.080.73
GE25.76550.0955
ITT Exelis17.900.78
LNC54.671.77
Navistar35.100.24
Raytheon103.590.39
SDI22.990.43
Verizon50.21550.3155

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.