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Wayne County treasurer reports $57 million interest earned in first nine months, projects $75–78 million for year
Summary
Treasury staff reported strong investment returns for the first three quarters, with $57 million earned and a full-year projection of $75–78 million; committee members had no questions and later moved to receive and file the report.
John Kravitz of the treasurer’s office reported to the Wayne County Commission Committee on Ways and Means that the county earned $57,000,000 in interest in the first nine months of the fiscal year and is on track to earn an estimated $75 million to $78 million by year-end.
Kravitz testified remotely from a conference, and committee members signaled approval after his summary. “But we're in great shape, for the third quarter. I, it looks like we, earned 57,000,000 in interest for the first 9 months, so we should be on track to hit probably 75 to 78,000,000 by the, by the 12 month period,” Kravitz said.
The committee asked no follow-up questions during the report presentation. The treasurer's third-quarter investment report for fiscal year 2024–2025 was the item the committee forwarded as a receiving-file; the committee later voted to receive and file the report as part of its action agenda.
