New Investment Policy Yeilds 237 Percent Increase in First Full Month
Posted on: 6/21/2017 12:34:47 PM
SEMINOLE COUNTY, FL (June 21, 2017)— Seminole County’s investment income reported a 237% increase during its first full month under a new investment policy as compared to the same month last year. In May 2016, interest earned on investments totaled $128,738. In May 2017, interest earned on investments increased to $433,851 for the month. The new investment policy, instituted on April 10, 2017, also yielded an increase of 119% from April 2016 to April 2017.
The Seminole County Board of County Commissioners approved the new investment policy on March 28 at its regularly scheduled meeting. Per the new policy, the County will continue to utilize the Office of the Seminole County Clerk, acting in a ministerial capacity as Custodian of the County funds, to administer the investment policy based on the direction of the Board of County Commissioners.
As a result of the Board of County Commission's new policy and direction, the taxpayers of Seminole County are expected to earn an additional $3 million in the coming year.
County Manager's Office
1101 East First Street
Sanford, FL 32771
Phone: (407) 665-7212
Fax: (407) 665-7958