County Commissioners get breakdown on county finances | News, Sports, Jobs – The Review – The Review

Jan 24, 2022
LISBON – With $1.5 million in deposits and more than $104 million in investments, County Commissioners got a breakdown on where the county’s money is located from Treasurer Bryan Blakeman and Jim McCourt of Meeder Investment Management on Wednesday morning.
Blakeman and McCourt explained to commissioners they recently moved the county’s custodial accounts from Huntington Bank to U.S. Bank, which McCourt said is one of only three or four banks with the ability to handle accounts of that size. Blakeman said he felt there were some issuwes with Huntington and the move should save the county between $15,000 and $20,000 in fees each year.
Commissioner Tim Weigle questioned the move, stating he believed it is a requirement for the depository bank to be one located within the county. Blakeman and McCourt said there is a difference between the depository bank and the custodial bank. Weigle urged them to reread the requirement, stating he does not believe the requirement differentiated between the two types of accounts.
McCourt then went over investment information, including how he predicts interest rates may be improving for investors starting in 2022 and onward. While the county may look toward investing in areas available to counties that could provide higher interest, McCourt said suggested they should not invest everything in long-term investments right now because the interest rates could rise even higher and money should be available to invest at that point.
Some of the money being considered for investment includes $8.46 million of the money the county received through the American Rescue Plan Act (ARPA), the $1.9 trillion federal COVID-19 relief package. The county has spent some of the nearly $9.9 million in ARPA money received in June. The county has until Dec. 31, 2024, to utilize that pot of money with a limited list of projects and purchases for which the money can be used.
Commissioners are expected to receive another nearly $9.9 million in ARPA funds in 2022.
McCourt emphasized that with the investment of the ARPA money, it is important to structure it so the county receives the maximum benefit and yet it is available when the county is ready to deploy more of it into the community.
In other matters:
— County Engineer Bert Dawson will be seeking bids to install a sanitary sewer pump station and oil water separator at the county’s highway garage, to purchase materials for testing services for the Calcutta Smith Ferry Road project in St. Clair Township and for a bridge replacement project on Old state Route 154 in Elkrun Township.
— Commissioners approved the hiring of Jared Newman of Austintown as a social services worker with the Children Services Division of Jobs and Family Services.
— Commissioners met Haley Shoemaker, the Agriculture and Natural Resources educator, with the county extension agency. Shoemaker will be working part-time in Columbiana County and part-time in Mahoning County and told commissioners she plans to offer programming to help local farmers learn new techniques in the areas of crop and livestock production.
— Following their meeting, commissioners met online with Hannah McKee of CEBCO, the consortium the county’s health insurance plan has gone through for this year. McKee detailed for commissioners parts of the proposed wellness plan, including requirements and possible incentives they can offer to get employees and their spouses engaged in the program. Deputy Clerk Crystal Siembida Boggs, who will serve as the health insurance administrator, will next talk to the insurance committee about the ideas and get their input.
— Commissioners approved a request for the lease of a vehicle for employees of the prosecutor’s office to use.
— Due to a clerical error on the subsidy grant for the juvenile court drug testing program in 2020, commissioners approved a post-audit appeal request. The error involved a dollar amount placed in the wrong column.
— The East Liverpool Municipal Court’s final report for 2021 showed the court collected a total of $675,246.
— Commissioners approved 50 percent load limits for a list of 18 roads in Liverpool Township.
Today’s breaking news and more in your inbox
LISBON — An East Liverpool man, who set fire to vehicles and a garage in December of 2019, was sentenced to 18 …
LISBON — The Columbiana County Career and Technical Center school board has selected its leaders for the new …
LISBON — Columbiana County residents have just one more week to purchase 2022 dog licenses without a …
LISBON — With his newly appointed defense attorneys at his side, new dates were selected for the Common Pleas …
TUE/1-25 Canfield Mahoning County Public Health Finance Committee, 8:30 a.m., Canfield Fairgrounds …
Westminster College NEW WILMINGTON, Pa. – Westminster College in New Wilmington, Pennsylvania, recently named …
Today’s breaking news and more in your inbox

Copyright © The Review | https://www.reviewonline.com | 210 East Fourth St., East Liverpool, OH 43920 | 330-385-4545 | Ogden Newspapers | The Nutting Company

source

Leave a comment

Your email address will not be published.