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Will County Treasurer Steve Weber, CPA, announced today that his office earned $2.8-million in interest income on the county’s corporate investment portfolio in Fiscal Year 2013, a 79% increase from the previous year.
“The county’s total cash and investments had a market value of $250.7-million at the end of the fiscal year,” Weber said, “Our operating account generated enough interest income to fund the Treasurer’s Office for the next two years.”
Safe Growth in a Tough Economy
Since being elected County Treasurer in December 2010, Steve Weber has taken a more pro-active approach to investing the county’s cash holdings. The Treasurer’s Office invests the county’s money in a broad range of safe investments such as Treasury Bonds, Municipal Bonds, and other fixed income products. The result of this strategy has been safe, steady growth in investment earnings since 2010.
“We analyze every investment opportunity for safety and security first, then performance,” Weber said, “These priorities help ensure that we never invest taxpayer money in risky investments.”
About the Will County Treasurer’s Office
The Will County Treasurer’s Office receives tax revenue and other public money, safely keeps those funds, and disburses that money pursuant to law. The office also provides guidance for the management of long-term debt and investments with the assistance of the Will County Board’s Finance Committee and the County’s Director of Finance.
As County Treasurer, Steve Weber (R-Mokena) is dedicated to providing reliable banking services for county agencies, secure investment of your tax dollars, and trustworthy accounting services that provide transparency for county residents. The office has a professional staff of 21 employees.