Jeffersonville Mayor Mike Moore announced that the City earned a record $2.4 million in interest on its investments for 2019.
“My dad always stressed for us kids to be smart with our money. I’m sure he’s looking down right now with a big grin on his face,” said Moore. “Over the last eight years, we’ve worked hard to invest the city’s money wisely for a better return. It’s great to see that hard work is paying-off in a big way.”
In 2011 – the year before Moore became Mayor – the city earned $231,841 in interest on its investments. Each year under Moore the city has steadily increased its return on investments reaching $2,425,209 in 2019.
“We’ve been very fortunate in maximizing our investments,” said City Controller Heather Metcalf. “We’ve made a significant effort to find the best deal when investing tax dollars.”
Moore said earning more money from investments helps the city use those dollars to fund city services and personnel that otherwise would need to rely on tax dollars.
“The taxpayer is coming out ahead every time we get a return on the city’s investments,” said Moore who noted that an independent study in 2015 ranked Jeffersonville’s fiscal health the best in Indiana. “Working with the city council, we saved the taxpayers $2.4 million last year because of our smart planning.”
“The city finance department has done an outstanding job of making smart investments,” said City Council President Matt Owen. “Those investments are helping us do more without placing a burden on the taxpayer.”