County Treasurer Vonda Akey reported to the LaGrange County Board of Finance Tuesday that she is keeping the county money in a checking account. “We are receiving more interest from our checking account than can be realized by buying CDs,” she said.
Akey noted that Wells Fargo has asked not to be contacted for rate quotes. LaGrange County has some $30 million on deposit and received $192,000 in interest in 2012.
As a result of holding the entire amount in a checking account, the interest is going into the general fund rather than to a specific fund account.
County Commissioner Garry Heller was re-elected president of the board and Akey as secretary.