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Shelby County board and residents press treasurer over low investment returns
Summary
Board members and public commenters at the June 12 Shelby County Board meeting pressed the county treasurer about the county’s cash-investment strategy and low interest earnings, seeking explanations and records.
Shelby County board members and residents on June 12 pressed the county treasurer for explanations after multiple speakers said the county’s cash was earning very little interest.
A county board member questioned why the county’s cash balances were earning “8 tenths of a percent” and urged staff to explain why the county was not investing more of its funds. “I don't understand why we don't have more money invested,” the board member said during the meeting.
The concern resurfaced during public comment, when a resident asked whether the treasurer, identified only as Erica in public remarks, could be asked to explain the county’s investment approach at a future meeting. “Is there a mechanism…
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