Thursday, June 23, 2016

County's Interest Income to Double in New Agreement

Schuylkill County Treasurer Linda Marchalk announced Thursday that the interest income the County currently receives from its primary financial institution will double effective immediately.

The increase in the interest income is a result of the responses Marchalk received to a Request for Proposal that she sent to a number of financial institutions, including the County's current primary financial institution, M&T Bank.

After receiving responses from a number of financial institutions, the top contenders were invited to make a presentation to County Commissioners George Halcovage, Frank Staudenmeier and Gary Hess, County Controller Christy Joy, County Administrator Mark Scarbinsky, and County Finance Director Paul Buber, along with Marchalk and her Deputy Treasurer Diana Bashinsky.

Marchalk said, "My goal jn sending cut the Request for Propose s was to maximize the amount the County earns in interest income and I am very pleased that my goal was realized. I want to express my thanks and appreciation to everyone who dedicated their time and effort to the process, including those financial institutions that made presentations but were not selected as the County's primary financial institution this time around, I plan to continue ta look for ways to improve efficiency, lower costs and maximize earnings for the benefit of the County's taxpayers.