Strong economy boosted Allen County’s investment income in 2017
Thanks to a strong economy and higher interest rates, Allen County government’s investment income increased dramatically last year, according to Treasurer William Royce.
In his annual report to the County Commissioners, Royce said the county earned nearly $1.5 million in interest in 2017 compared to $1.04 million the previous year. As recently as 2013 that figure was as low as $296,108 but has increased every year since then as the economy has improved, he noted.
The treasurer oversees funds collected through taxes, fees and other sources and deposits the money with various banks as proscribed by state law. Security, liquidity and return on investment all help determine where the money is placed pending distribution to local taxing units, Royce said.