News-Sentinel.com Your Town. Your Voice.
Local Business Search
Stock Summary
Dow18132.70-81.72
Nasdaq4963.53-24.36
S&P 5002104.50-6.24
AEP57.580.17
Comcast59.380.23
GE25.990.1
ITT Exelis24.20-0.08
LNC57.64-0.47
Navistar29.11-0.85
Raytheon108.770.17
SDI18.22-0.38
Verizon49.450.08

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.