WILMINGTON – Clinton County’s funds are “on track” for the end of the year.
The second-quarter report was discussed at the Clinton County Investment Advisory Committee Wednesday.
As of June 30, there was $59,338,177.84 in all Clinton County accounts. The yield for all the accounts was 1.219 percent, which is the best Clinton County Treasurer Jason Walt has seen since taking office.
“I think when I took office it was slightly under 1 percent,” he said. “We continue to see the market improve.”
As of June 30, the year-to-date interest was $276,059, Walt said. The year-end value of interest at the end of 2014 was $530,210.
“We’re well on pace to meet our expectations there,” he said.
During the second quarter, Clinton County moved all funds from National Bank and Trust to Peoples Bank.
During April, the county had interest earnings of $13,687.50 and the bank fee of $850 was waived because of the switch.
In May, the county’s earned interest was $53,012.50 and it had the $850 bank fee.
In June, the county’s earned interest was $75,705.50 and it had the $850 bank fee.
The second quarter has been a very active one, Walt said.
“During the past quarter we had bonds called (and) redemptions of $13.3 million,” he said.
The investment advisory committee has reinvested all of the redemptions plus another $1.2 million the committee felt like they could get out of the main accounts, Walt said.
In total, $14,506,622.50 was reinvested during the second quarter.
The committee is also working to pay off a $4 million loan over 10 years while getting interest off the loan, Walt said.
“We’re getting a decent amount of earnings,” Walt said. “I think we’re pretty much on track.”