Cities, county see dwindling interest income from investments

Monday, August 25, 2014   (0 Comments)
Posted by: Morgan Mains
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Fremont News Messenger

FREMONT – Declining interest income from investments is a budget concern raised in the city’s Big Fremont plan and one that has cut dramatically into the amount of money city officials have available to plug budget gaps created by reduced state revenues and fill needed positions...

Ellis said an extra $700,000 — the approximate gap between last year’s interest income and the city’s peak in 2007 — would go a long way toward boosting services to city residents with new hires.

“It could hire firefighters, more police officers,” Ellis said...

Celestino said the county had its first tax lien certificate sale in 2013, working with Tax Ease Ohio LLC to bring in $1.2 million. She said of 550 delinquent parcels county-wide, 217 were purchased by Tax Ease, with the tax lien company paying the county a fee for each parcel.

About 75 percent of that $1.2 million went to local school districts, Celestino said, with the rest available to the county for budgeting needs....


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