Tenaha Businessmen Club hears report from County Treasurer, Ann Blackwell
Shelby County Treasurer Ann Blackwell, accompanied by her husband, Sheriff Willis Blackwell, was the guest speaker at the Thursday, May 9, 2019 meeting of the Tenaha Businessmen Club (TBC). Her topic was Shelby County’s investments plan.
Mrs. Blackwell began by informing the TBC members present that when she first took office as County Treasurer, the County had “a couple of CDs that were drawing virtually no interest.” She approached County Commissioners Court with the request that she could devise an investment plan that would utilize Money Market accounts and split up monies in CDs into four parts. Although initially reluctant, as Commissioners need to have every penny accounted for, Mrs. Blackwell was able to convince them to go ahead with her plan.
The money was split and every three months, one-fourth of the total is invested. This invested money then began earning interest. To become more informed and invest the County’s money strategically, Mrs. Blackwell enrolled in an Investment Academy. The County’s money was able to continue to earn more interest.
Mrs. Blackwell cited financial figures to illustrate the improvement in interest earned on the County’s monies:
In the Fiscal Year 2014-2015, the invested County monies earned $22,000; and in 2015-2016, $16,000. Mrs. Blackwell went to Farmers State Bank to talk with David Chadwick and Jerry Pinkston about creating a new Money Market account with TexPool. This was done and from October 1, 2019 to April 2019, the County’s investments earned $96,000. Mrs. Blackwell said that by having four accounts coming due at different times, the County’s money is able to continue to actively earn interest and have monies available every three months for any contingency.
The Shelby County Financial reports are available under the Financial Transparency item on the menu at www.co.shelby.tx.us.
Tenaha City Secretary Amanda Treat reported that the Tenaha City Council would meet at 5:15 p.m. and after canvassing votes from the City Election on May 4, would swear in returning and new Council members.
Director of Public Works for the City of Tenaha, Stacy Cranford, said that his department had been cleaning up between storms. The City had also installed new water meters and was replacing some lines.
Austin Blanda announced a First Baptist Church youth car wash on the morning of Saturday, May 18. As a member of the Tenaha Volunteer Fire Department, he is now both a state-certified EMT and firefighter. The Tenaha VFD has applied for a $500,000 grant that will enable them to purchase new fire trucks, a thermo camera, and a Jaws of Life.
Jimmy Bowlin stated that the Tenaha High School Senior class would be treated to hamburgers on the last day of school, which is an early-release day.
President Roland Cross appointed the following people to the Scholarship Committee: Chairman, Don Dial, and committee members, Claudine Howard and Carolyn Scull.