County Projecting Surplus
The County of Essex is projecting a $446,000 surplus for 2014.
“We thought we would be close to on par,” says Rob Maisonville, treasurer for the county.
“The return on investments was really something that we were not expecting. We hope it’s going to continue and even grow,” says Maisonville. “We had excellent returns with the one program, LES is one program. The equity fund specifically and the corporate bond fund have really outperformed what our expectations were.”
Maisonville notes the projected surplus doesn’t factor in the $759,000 taken out of reserves to deal with the severe winter at the beginning of the year.