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Waynesville staff outlines revenue status; some funds down while others rise
Summary
Finance staff reported mixed revenue results and recommended reallocating cash to earn higher interest, citing Sweep at about 2% and STAR Ohio around 4%. Committee members asked questions; no final transfer occurred without ordinance.
Jamie Morley, staff, presented the committee with an update on the Village of Waynesville's revenue status on Sept. 15, 2025, answering committee questions about why some funds were down while others were up. Morley described the relative yields of different cash-holding options and recommended adjustments to improve earnings.
Morley told the committee the Sweep account was earning roughly 2% while the STAR Ohio account was yielding about 4%, and she suggested moving funds to take advantage of the higher return. Committee members raised questions before later voting to ask that an ordinance be drafted to transfer $1.5 million to STAR Ohio; the ordinance must be approved by the council before any transfer.
