EDWARDSVILLE — Madison County’s investment income is expected to more than double between 2016 and 2018, according to Treasurer Chris Slusser in his report to the County Board’s Finance & Government Operations Committee Wednesday morning.

The county received slightly more than $1 million investment income in fiscal year 2016. That increased to $1.4 million in fiscal year 2017, and is expected to reach $2.3 million in fiscal year 2018.

He said the reason for the increase is diversification and a more hands-on approach to investing county money. Slusser said that he anticipates the county will receive approximately $4 million per year once his office is finished reinvesting all of the county’s money.

As of Dec. 31 the county had $152,823,253 million to invest and was receiving an average yield of 1.52 percent. A year earlier the county had $149.3 million and was receiving 1.04 percent return. Part of this is general fund money, but much of it is in special funds or accounts.

Public funds can only be placed in “safer” types of investments, meaning the rate of return is often lower than other investments.

Slusser said the three most important issues are safety, liquidity (the ability to convert the investments to usable cash) and return.

Approximately 32 percent, or $48.5 million, is invested in CD’s; another 14 percent, or $22 million, in money market accounts; 32 percent, or $49.9 million, in federal agency bonds; and 22 percent, or $33.2 million, in municipal bonds.

Slusser said the biggest change was placing more money in municipal bonds, and negotiating higher interest rates for money market and CD funds.

In addition to a more aggressive approach, Slusser said he consulted with County Auditor Rick Faccin to make sure money was available, especially for larger capital projects like the upcoming jail renovation.

“Together we determined appropriate cash flow needs, based on previous years, and projected future needs,” Slusser said. “This allowed us to determine the appropriate amount of liquidity in the portfolio.”

Faccin praised Slusser’s efforts, saying the bottom line was it provided more money for county services.

“He’s creating revenue without raising taxes,” Faccin said.

In other business the committee approved a revised resolution to purchase audio-visual upgrades for the Madison County Courthouse. The revision was necessary because of a $100 difference between the previous resolution and the actual cost.

Also approved was an intergovernmental agreement covering a police services contract between the Madison County Sheriff’s Department and the village of Godfrey.

Both must still be approved by the full County Board.

The committee also heard from Recorder Amy Meyer, who has been attending numerous committee meetings this week after eliminating her position and consolidating the Recorder’s Office with the County Clerk’s Office.

Meyer talked about the historical significance of her office, which dates back to 1812, before Illinois was a state.

She also said that if there is discussion about eliminating her office, it should be a broader discussion involving more offices.

Income to double between 2016 and 2018

Reach reporter Scott Cousins at 618-208-6447.

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