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Harrison County board approves investment resolution and a Section 457 deferred-compensation plan
Summary
The board approved a resolution to invest idle general-fund cash in the West Virginia Board of Treasury Investments consolidated fund and adopted an optional State of West Virginia Section 457 deferred-compensation plan; both passed by voice vote and personnel matters were also approved.
At its December meeting the Harrison County Board of Education moved to place idle general-fund cash in the West Virginia Board of Treasury Investments consolidated fund to seek higher returns. A staff member described the fund as designed to invest cash not needed for day-to-day operations and said current interest-rate comparisons cited in the discussion were about 4.27% and 3.96%, with rates changing monthly. The staff speaker estimated the proposed deposit would net roughly an additional $7,000 per month at the current rates.
Board members asked…
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