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Pender County finance staff point to sharp rise in interest income as they begin budget workshop
Summary
Finance staff told commissioners that interest income has grown from roughly $9,000 to nearly $5 million a year as higher market rates and county investments drive a large change in revenue forecasts for the coming budget cycle.
Interim County Manager Miss Blue opened a multi-department budget workshop by walking commissioners through revenue forecasting and highlighted a large, recent rise in interest income.
"One of the biggest changes over the last couple of years is going to be interest earned," Miss Blue said. "A couple of years ago, it was as little as $9,000 because that's what interest rates were giving us. Now we're up to nearly $5,000,000 a year, in interest income…
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