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BUFFALO NEWS

2006 interest income totaled $11.6 million

Updated: 05/31/07 6:50 AM

Money makes money, as the adage goes. With more money on hand in 2006 than the year before, Erie County earned $11.6 million in interest income, according to Comptroller Mark C. Poloncarz.

“Assisted by higher interest rates, new banking relationships and aggressive cash management practices, the comptroller’s office more than doubled the county’s total interest earnings from 2005 to 2006,” Poloncarz said in a written statement about 2006 results.

The county earned $5.7 million in interest income in 2005.

Copyright 2007 - The Buffalo News

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