The Knox Community School Corporation earned less money in interest off of its cash reserves in 2020. Treasurer Kasey Clark told the board of finance earlier this month that the total amount of interest earned was just under $59,000.
“Interest is horrible right now, no matter what you put it in, whether it’s a CD or whatever,” Clark said. “We’re getting the same interest rate in our checking account.”
The checking account interest on its own dropped by almost two-thirds compared to 2019. But Board Member Kirk Bennett pointed out that the low interest rates also turned out to be a good thing for the school corporation, when it borrowed money for its building project.
