INVESTMENTS … Red Tree Investments co-founder Ryan Nelson, met with Williams County Commissioners, along with County Treasurer Kellie Gray to discuss investment advances made in the past three months. (PHOTO BY REBECCA MILLER, STAFF)
By: Rebecca Miller
Monday, July 25, 2022 began for the Williams County Commissioners at 8:30 a.m. with a visit from County Treasurer, Kellie Gray, and Ryan Nelson with Red Tree Investments.
Nelson reported that since the April 4th meeting, his company has been able to get quite a bit accomplished for the county.
Investment highlights included: Purchased US treasures in early June; Received quotes from local banks on CDARs/CDs; Difference in interest earnings was approximately $75,000; Securities are held at Huntington Bank in custody account; Worked on accounting and reporting
“This is the best place you could possibly be with all of your funds for the county,” Nelson said at one point, especially concerning the great interest rates at present.
Security allocation amount is around 19.5 million dollars. The Premier Bank Money Markets, liquidity allocation, is at $31.9 million. All are backed by the government.
There was some discussion about projects that are coming up soon and how investments might help pay for some of those.
“All signs are that the government will stay at 3.5%. A lot can change but they are saying that it will stay at that,” Nelson added.
Commissioner Lew Hilkert thanked Nelson for already earning back the fee that the county paid for Red Tree services.
In regular session, the commissioners approved supplemental appropriations, minutes of previous meeting, and payment of bills.
Also signed items included: Purchase documents in regards to 2023 International Truck for purchase from county engineer and a travel request for John Waterston to attend CEAO 2022 Ohio Bridge Conference.
At 9:15 that morning, they met with Brian Fritsch from the County Drainage Department, and County Engineer Todd Roth to talk about vehicle purchases.
Fritsch spoke about a proposal from Terry Hendricks Ford in Archbold for a 2020 Ford F-150, at the cost of $45,492.13. The department has $35,00 of that and were there to request the $12,500 to purchase the truck.
Rummel said that a pre-discussion had the Engineering Department interested in the old 2006 truck that is coming out of Drainage Department, which has 152,000 miles on it.
It was determined that the commissioners would get a resolution written to take formal action for the purchase of the vehicle.
Following a short recess, the commissioners went into Executive Session “in regards to employment and compensation of a public employee or official.”
They came out with no action taken and adjourned for the day.
Rebecca can be reached at rebecca@thevillagereporter.com