We attended the Lake County Investment Advisory Committee quarterly meeting on April 29, 2021. The meeting was timely since the Commissioners are trying to determine how to pay for a new jail that is estimated to cost the taxpayers $100 million.
We created this video by carving out the investment discussion from a rather lengthy video posted on the Commissioners’ website. We inserted the pages that Eileen Stanic, a director for Meeder Investment Management, was discussing with the Commissioners so that our readers could better follow the discussion. The pages of the report are also posted in a slideshow after the video.
The County’s portfolio is $359,324,723, but there was no knowledge to whom the money belongs. We were told that it is not all of the County’s General Fund money. What we heard was that the Treasurer, Lorraine Fende, will do the research and get back to the Commissioners. LFC will pursue the answer for our readers.
Commissioner Young was trying to find money that would help pay for the new $100 million jail, and he wondered if the County, rather than putting the County (and the taxpayers) into more debt, could borrow our own General Fund money, and repay ourselves. Assistant Prosecutor Dave Hackman was going to determine if that can be done legally.
Eileen Stanic, Director of Advisory Services for Meeder Investment Management informs the Commissioners what is happening in the economy and how the $359,324,723 in the County’s portfolio is being invested.
To scroll through the report use “<” or “>”….