Greene County Treasurer Gives Annual Settlement to Commission

Greene County Treasurer Justin Hill gave his annual settlement to the County Commission on Thursday showing all the county’s cash flow and investments.

The action is required once a year by state law.

Hill stated during his report to the Commission the investments made by the county including about $10 million in what’s called an “Insured Cash Suite.” The system, which is yielding about 2.25% a year on the county’s investment, puts $250,000 into a series of local banks that share account customers with each other. This way, the county’s money in one bank is never larger than the maximum amount protected by the FDIC, and thus the county gains interest from the accounts without actually risking any loss.

The majority of the county’s investments, 55 percent of them, mature within a year. The next 15% are between a year and two years, while the remaining 30% is split evenly between 2-3 year, 3-4 year and 4-5 year investments.

Here is the report summary given to the Greene County Commission: