Harrison County sets record with investments for fiscal year 2024
Harrison County set another record this year, generating $1.7 million in interest earned from investments made by the county’s investment committee for fiscal year 2024.
“We earned over $1,700,000 in interest this year — the most we ever have earned in Harrison County,” County Treasurer Sherry Rushing reported Tuesday.
“I thought last year was good with $1,000,002. This year, we exceeded that,” Rushing said as she addressed the county commissioners court. “I can’t say what we’ll do next year, but I’m happy for this year — ecstatically happy for this year.”
She thanked the county’s investment committee, which consists of County Judge Chad Sims and County Auditor Becky Haynes, for making the achievement possible. She also expressed appreciation to her staff.
“It takes all of us,” she said when it comes to working together to make good investments to earn that much interest.
Rushing, who is in her second term, made it a priority to stay on top of the investments after taking office in January 2019.
Giving her investment report for the month of September 2024, she noted in the county’s Texas Class, the county had a balance of $1,112,136.74. The interest rate with Texas Class was 5.29%.
“We earned an interest of $4,833.73 with an ending balance for September, $1,116,970.47,” she reported. “In Ameriprise Financial, we have $945,609. 38. With our Texas Bank and Trust wealth management, we have invested $21,154,884.22. The total invested is $23,217,464.07.”
Interests earned from investments for September was $226,521.62.
“We had a Texas Bank and Trust money market for September. We earned $24,438.44. (In the) Texas Bank and Trust main account for September, we earned $1,355.27 with a monthly total of $257,149.06, which brings our year-end total of interest earned for fiscal year 2024, to $1,747,322.09,” Rushing reported.
Rushing explained before that the earned interest from investments assists with the county’s budget, filling in the gaps where needed.
County Judge Sims applauded the report, commending Rushing on a job well done. Pct. 4 County Commissioner Jay Ebarb also praised the investment committee for showing great fiscal responsibility with taxpayer money.
“When I came in for 10 years ago, we didn’t have an investment committee. You all have done an outstanding job for the citizens in Harrison County,” said Ebarb. “You’ve managed the taxpayer money in a positive way. I really do appreciate you all.”
Rushing reiterated her appreciation to her staff, the investment committee and auditor’s department for the efforts.
“It takes a team effort, and it was a team effort, and it’s paid off very well,” the county treasurer said.