Saline County is experiencing a reduction in its idle fund earnings compared to last year, according to County Treasurer Anthony Newell's second quarter report presented at Tuesday's County Commission meeting.
During his presentation, Newell reported that for the quarter ending June 30, 2025, the county earned $466,757.60 in interest on idle funds, compared to $583,289.51 during the same period in 2024. This represents a decrease of $116,531.91 in quarterly earnings.
"We experienced an overall decrease of $116,531.91 on idle fund earnings over the same period this past year," Newell told commissioners.
The treasurer attributed the decline to changes in interest rates affecting the county's certificates of deposit (CDs). Three of the county's highest-rate CDs, which previously ranged from 5% to 5.3%, matured during the reporting period. These were replaced with new CDs at rates between 4.3% and 4.6%.
"The amount of the bids that we received are in line with industry standards and what we're seeing in the overall interest rate environment," Newell explained.
Currently, the county's highest rate CD stands at 4.5%, down from a previous high of 5.3%.
Newell's report showed that the total funding available for investment during this period was $62,824,859.77, which represents a 5% increase over the same period last year. The majority of these funds—83.02%—are held in regular bank accounts earning 3.22% interest, which generated $252,391.71 for the second quarter.
The county will continue collecting interest throughout the remainder of the year, with the reported figures representing earnings for the first half of 2025.
