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Commissioners build salary reserve fund

January 13, 2012

By KAREN KANTNER
Assistant Managing Editor
A transfer of $100,000 is expected to build back up the county’s salary reserve fund for any retirements this year.
The Auglaize County commissioners this week approved the transfer from the contingencies fund to the salary reserve fund, which was established a couple years ago to help pay out vacation and sick time obligations offered as part of the county’s financial severance package upon an employee’s retirement.
Auglaize County Commissioner Doug Spencer said they had just a little more than $12,000 left in the account going into 2012.
“We’re putting the $100,000 in to build it back up to prepare for future retirements,” Spencer said. “It’s a good way to make sure we have it covered if and when other county employees retire this year.”
Auglaize County Auditor Janet Schuler said the 18 retirements in 2011 cost the county $128,344.49 in severance pay, but it wasn’t the highest number of retirements in recent years. 2010 holds that record with 21 retirements.
The four years prior to that, nine people retired each year.
To date in 2012, five county employees are scheduled to retire.

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