COLUMBIANA Officials seek ways to save, make money

The county may make an additional $100,000 in investments in six months.
By D.A. WILKINSON
VINDICATOR SALEM BUREAU
LISBON -- Columbiana County officials are trying to save money and make money.
County commissioners Wednesday rejected paying health insurance for the board of elections members and approved using a new investment company that could bring an additional $100,000 in investment income to the county, according to county Treasurer Linda Bolon.
In a year when the county is expected to lose several million dollars after voters refused to approve a 0.5-percent sales tax last year, commissioners have maintained that the $13,000 annual cost for health insurance for each elections board member is too high for a part-time job paying about $9,775 a year.
The board approved the health insurance for its new members who will take office in March. The exact cost was not immediately available.
But Commissioner Chairman Sean Logan said commissioners can now legally refuse to provide the insurance. Previously, state law did not allow commissioners to refuse, which led to a lawsuit when the commissioners balked at doing so.
The suit has since been settled, and "The law has been changed," Logan pointed out, explaining how they could reject the board's proposal.
One of the board members who voted for the benefit and will return for the new term is Atty. Jerry Ward. He and board members Dr. Anthony Rich and Dennis Johnson have been getting insurance in the current term. Accountant Alfred Fricano did not.
Other business
In other business, commissioners, along with Bolon and Clerk of Courts Anthony Datillio approved new investment policies. They constitute the county investment board.
Bolon said the previous guidelines required by law got into little detail. But the new ones spell out the allowed and prohibited investments and include ethics guidelines.
The new policies were written by Dennis V. Yacobozzi, president of United American Capital Corp. of Worthington.
Yacobozzi also is advising Bolon on the investment of county funds. Bolon said that in 2005, the county made $952,000 in investment income.
With Yacobozzi's help, Bolon said, the county may make an extra $100,000 in investment income in the first six months of this year.
wilkinson@vindy.com