Peoria County Board Considering Investment Options

Dec 27, 2016

The Peoria County Board already has a resolution for the New Year.

Board Vice Chairman Stephen Morris is asking the board to reconsider the county’s investment portfolio. This comes after the board approved significant budget cuts for the county’s 2017 spending plan that will amount to job cuts.

Peoria County Board Chairman Andrew Rand says the county has to keep the majority of its cash available for operating expenses and much of it is restricted to certain endeavors. He says it’s the balance that’s invested.

"But we clearly, both when a previous administrator looked at it and our current CFO has looked at it, have far better options to generate better returns in just as safe places,” Rand said.   

The board vice chairman says there are liquid and conservative investment pools where the county might earn two percent return. He says the county’s current investment accounts earn a fraction of one percent.

The Peoria County Board Ways and Means committee is expected to take up the subject with the Peoria County Treasure early in the New Year.