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News-Sentinel.com Your Town. Your Voice.

Low interest rates continue county's investment slide

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
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.

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