Port Generating Funds from Interest

[VIDEO] The Port of Shelton has earned a substantial amount from investing some of its reserves in the Local Government Investment Pool (LGIP). The Port’s Executive Director, Wendy Smith, told the Port Commission Friday, their $3 Million investment with the LGIP earned over $6,000 last month and almost $50,000 last year.

The Port also has funds in a local bank. Interest earned from that bank for 2018 was $246.

Port staff first brought the concept of transferring money into the LGIP to the Port Commission in August of 2016. (Click here for that story.)

In other Port of Shelton news, Dick Taylor will continues as Chairman of the Port Commission. Kristy Buck will continues to serve as Vice-Chair. And Sue Patterson will continue as Treasurer.