County
May 16, 2024

County investments earn $1.5M in first quarter

 

By Michael Williamson, Richwood Gazette

Union County started 2024 strong with more than a million dollars in investment income revenue.

Treasurer Andrew Smarra, who serves on the county’s investment committee, told the commissioners last week that the county earned $1.5 million in interest income revenue for the first quarter of 2024, up from $833,000 the same time last year.

“Quarter to quarter, not a whole lot has changed,” he said. “That’s the good news. I don’t have a lot of bad news.”

Interest is generated from money the county has invested in various funds from corporate bonds to commercial paper. Smarra said, on average, the county has about $100 million i…

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