Commission to invest 911 checking funds

Tuesday, December 2, 2003

One million dollars that is currently sitting in a 911 checking account will be invested soon.

The Cape Girardeau County Commission voted Monday to have county auditor David Ludwig look into 30-, 60- and 90-day notes and try to find the best rates.

Last week, Presiding Commissioner Gerald Jones was surprised to find the money was sitting in a checking account, earning just 0.5 percent interest.

County 911 director David Hitt suggested the money be invested in short-term notes with $250,000 being held in 30-day and $250,000 in 60-day notes, and $500,000 being held in 90-day notes.

That way, Hitt said, if there is an emergency, the county will have access to all of its money within 90 days.

Respond to this story

Posting a comment requires free registration: