County investment income three times that of projected | News, Sports, Jobs



LISBON — The Colombiana County government received $495,318 in investment interest income for 2022, but nearly tripled this year’s projected income of $1,361,101, according to an investment report shared with the commissioner on Wednesday. Become.

The figure was discussed in an Investment Advisory Board session during the Commissioner’s Meeting. The Commission includes the County Commissioner, Court Clerk Tony Dattilio, and County Treasurer Brian Blakeman.

Meeder Investment Management Portfolio Manager Jim McCourt, who oversees the county’s investment portfolio, updated the commissioner on investment strategy.

He said plans to move money into longer-term investments to lock in higher interest rates could guarantee a projected investment return of $1.3 million. He said his projected income could eventually be more than $2 million, a star currently paying more than 4.5% interest, he said, not including interest income from cash accounts through Ohio. I pointed out that it is not. The investment portfolio includes his $91,915,919 invested in securities and his $28,445,359 in Star Ohio cash.

The Commissioner also heard an update from Encino Energy’s Director of External Affairs, Jackie Stewart, introduced the company’s new Community Relations Coordinator, Zach Kent, and spoke about some oil/gas drilling and well production. provided information on

She said Encino Energy is continuing its research in Columbiana County, a location on Mounts Road in Hanover Township is currently in production, and she likes what she’s seen so far. She said the company is still rented out and that the City of Salem is working well with the company on its water needs. Did.

Stewart said the company sent $295 million in royalty checks to property owners. She was looking up the Columbiana County number. That number will increase as the company produces more in Columbiana County, she said, explaining that when the wells begin production, larger checks will come sooner and then level off. , will be notified in our quarterly newsletter.

With offices in Carrollton, the company is Ohio focused and works with Ohio suppliers to use steel casings manufactured in Youngstown.

Stewart also stressed the need for workers at both Encino and its contractors, and truck drivers were in desperate need. has several lists.

Briefing on its community partnership program, Kent said the company donated $1.46 million last year. His two recipients in Columbiana County are Hanover Township and Beaver He donated to the Creek Wildlife Education Center.

Among other businesses, the Commissioner has approved an advertisement for a bid to replace the Homeworth Bridge on Georgetown Road, which will begin bidding on Feb. 22, and will promote prevention, retention, and emergency response on COVID-19 language. Approved the proposed change to the plan and did not call for a public hearing on it. Liquor license application for the Family Dollar Store on Lisbon Provincial Highway 45.

The commissioner also welcomed members of the Leadership Columbiana County, led by Amanda Frost, who said the focus is on county government this month.

The county commission’s next meeting is on January 25th at 9:00 am.

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