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News-Sentinel.com Your Town. Your Voice.

Allen County's interest income continues to fall

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.The Associated Press
Saturday, January 25, 2014 12:01 am
Declining interest rates continue to hurt Allen County’s bottom line, Treasurer Sue Orth said Friday during her annual report to the County Commissioners. Income from interest on investments totaled $296,343 in 2013, down from $325,320 in 2012, $598,988 in 2011 and $742,118 in 2010. Rates dropped by 21 percent between 2011 and 2012, she said, and when added to property tax caps and other factors gave the county $15,000 less per month to invest.

Orth said she does not expect rates to increase until at least 2015.

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