Northampton County Budget Administrator Doran Hamann told Northampton County Council yesterday that the County has approximately $80 million deposited in 102 separate bank accounts. Thirty-eight of these accounts are with one bank, Lafayette Ambassador.
Council President Ron Angle asked why. "Did they give you blankets or silverware?" Hammon explained that every account bears interest, and those offered by Lafayette are better than most.
7 comments:
This is only half of the story. Pennsylvania and US demand that their grant funds be kept in separate accounts in order that they are only used for the grant purposes and can be easily audited. If these governments were able to mingle the funds, they would be borrowing federal and state grant funds to meet general payroll, etc.
Lafayette Ambassador Bank owner returns to profitability
WHO CARES??? Give me something real.
I think some people might be interested in knowing a little bit about the LV's second largest municipal government, and where the money is kept.
For the sake of politics and publicity these Council morons will screw up the pension fund, Gracedale, the prison and the County as a whole.
They donot know what they are doing or anything about the County yet and already they want to reinvent the wheel.
The problem is there is a leadership vacuum in County governemnt. Stoffa can't lead a sandwich out of a paper bag. Angle and his new clueless minions have jumped in the power void. Hopefully they will not destroy a very good County in the process.
Ohare will naturally cheer them on so he can continue to get free rent and computers.
The County should put its money in local community banks and not in these huge bailout big banks that are raping the country.
www.moveyourmoney.info
The County has an obligation to invest its money in banks that will deliver the greatest yield on its investment, not pursue some political agenda. Most of the county's money is already in a regional bank anyway, Lafayette Ambassador.
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