Investments earn $187k
By Dean Shipley
The Madison County Commissioners heard Tuesday morning their decisions to issue bonds to local political entities have been good investments. During the investment council report, treasurer Donna Landis presented a sheet of the investments placed with county funds. Six separate investments, which total more than $5 million, are bonds issued to local political subdivisions at various rates. They ranged from 2.5 percent to 4.5 percent and have an average rate of 3.72 percent.
On an annual basis those investments generate $186,800. according to Landis.
Landis said it also works well for those the entity to which the bonds were issued. She cited the example of London City Schools. By taking out bonds with the county — in the amount of $4.1 million at 3.75 percent interest — LCS has saved $150,000 per year. The county was able to extend to LCS a better rate than the private sector.
Other investments include $10,600,000 invested in money market accounts at a rate of .20 percent, and the Mary Statler Love fund of $40,000 which is invested at a rate of .25 percent.
In other business the commissioners were invited by Debbie Lee, a representative of MATCO, to an open house. It will be held from 6-8 p.m. on Wednesday, Oct. 17, at MATCO for the 2012 Accessible Expression Ohio, an artists’ exhibit. It is a statewide exhibit, which is touring the statewide throughout the year. One of MATCO’s Sky High Arts artists, Randy Mayabb, will have a painting on display with this group of work. The exhibit will remain up through Oct. 31.
Also, representatives of Dwyer Insurance, Don Herman and Bill Beathard, said the health care plan for county employees will see a 1.1 percent increase for 2013 in medical and 1.2 percent increase in dental costs.
County engineer David Brand expressed an interest to have his employees enrolled into the same plan. After some discussion it was determined it would take some time, estimated until the 2014 enrollment period, to permit those employees to take part without casting an additional financial expense on those employees already enrolled in the plan.
Beathard and Herman, who were rehired for 2013 as insurance consultants to the commission, agreed to discuss a plan with Brand for the 2014 year of coverage.
Commissioners also met with Niki Glispie the new executive director of A Friend’s House. Former director, Joyce Parson, resigned to take another position. Glispie has worked as advocate in Fayette County, Highland and Clinton counties and for the Fayette county prosecutor’s office in its intervention program.
“I’ve seen both sides,” Glispie told commissioners.
She has been hired to work 15 hours per week, but admits she devotes much more time than for the hours she’s paid.
She said Madison County’s domestic violence program lacks funding. But as a grant writer, she is confident she can bring in the needed dollars to bring more support to the program.
“There’s a ton of stuff to do,” Glispie said.
She called A Friend’s House, the domestic violence shelter, “essential.”