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Last updated on Thursday, January 26, 2017
(BEDFORD) - Lawrence County Treasurer Paula Stewart reported during the annual County Board of Finance meeting that 2016 earned the county a whopping 83 percent more interest on certificates of deposit.
The total interest earned increased to $162,557.49 for the 2016 period, an 83 percent increase from 2015 at $88,777.04.
"This increase was due to both an increase in interest rates on certificates of deposit and a strategic plan in making those investments," Stewart says. "This is the largest increase in 10 years."
She commended local banks who are willing to invest in the community by accepting public fund investments. Those banks include: Bedford Federal Savings, Bloomfield State Bank, Chase Bank, German American, Hoosier Hills Credit Union, Main Source Bank, Mid Southern Bank, Mid Southern State Bank, Regions and Wells Fargo Bank.
Stewart also provided the most recent year's tax collection percentages. In the Payable 2016 tax year 95.32 percent of taxpayers paid their taxes on time. This number has been as low as 89.129 percent in the last 10 years.
She cites the stabilization of the real estate market as the 2016 improvement.
Commissioners also reviewed and approved minutes of the 2016 meeting, approved the 2017 Statement of Investment Policy and a listing of Certificates of Deposit currently held by the county.
The Lawrence County Board of Finance annual meeting is held under the direction of IC Code 5-13-7-6. The members of the Lawrence County Board of Finance are the County Commissioners, Gene McCracken, Rodney Fish and Dustin Gabhart and Stewart.
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