West Jefferson Council is again considering an investment policy that will allow it to diversify investments in order to maximize interest revenue.
Currently, the village is limited in its investment options to bank depository accounts, CDs, and the State Treasurer’s investment pool (Star Ohio). The new policy would allow investment in eligible government securities and would increase interest gained on interim funds, or funds not in use at this time.
“We don’t want to leave money sitting in a savings account if we can make a better return on it,” said Finance Director Jack Herrel.
In other news, the village continues to take strides toward setting up an informational line for residents. AT&T Corp. offered to waive all initial fees for the system.
“We should save money and have additional services when all is said and done,” said Mayor Scott Hockenbery.
After the line is established, residents will be able to call one number to obtain village information. The line will be monitored 24 hours a day.