The Mathews County Board of Supervisors, meeting last Thursday, eased swiftly through its compact agenda, handling business with little discussion before adjourning after just an hour and 10 minutes.
Treasurer Wendy Stewart, as requested by the board, reported on the county’s $7.21 million investment portfolio, $3.94 million of which is invested in seven 182-day and 13-month certificates of deposit that earn from 2.96 percent to 4.98 percent interest. The remainder is in a reserve sweep account that yields a higher interest rate than a regular checking account and helps optimize the movement of money between funds.
Total interest earned on all the investments over the past six months was $83,010.97, said Stewart. It was a figure that supervisor Janice Phillips found disappointing. She said the board had projected a 5 percent return on investments and she was concerned about the possibility of a shortfall in the budget.
Stewart said she expects an additional return of $114,043.36 from t...