EC Comptrollers Office Announces $18 Million in Interest Revenue

Erie County Comptroller Kevin Hardwick announced that as of September 30 2023, his office has earned over $18 million in interest on investments made with the County’s general fund. This far exceeded the 2023 Budget estimate for interest revenue of $1.2 million. Investments made by Hardwick’s team are driving the county’s surplus, accounting for more than half of the total.

 

Beginning in 2022, the Comptroller’s Office implemented a policy of aggressive investment which included purchasing Treasury Bills and other financial instruments. Hardwick’s active cash management policy also included deposits in multiple banks designed to achieve higher interest earnings than in recent years. This ever growing and diverse portfolio along with a steady increase in interest rates by the Federal Reserve made the timing ideal for these changes.

“I’m obviously pleased that the hard work of my staff has paid off, but I’m particularly proud that at a time when Erie County should be looking to reign in some of its expenditures, my office is making money instead of just spending it. We expect Erie County to be in a more difficult financial position, beginning in 2025. Now is the time to start preparing, and my office will continue to lead the way by making strong, strategic, and safe in

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President Donald Trump conceded Thursday he may pull his own attorney general nominee rather than give two outgoing Republican senators what they are demanding.

Trump made the admission on Truth Social after the Senate Judiciary Committee postponed a vote on acting Attorney General Todd Blanche's nomination Wednesday night. The vote was canceled when it became clear two Republicans would block it.

Those two senators — Sen. John Cornyn (R-TX) and Sen. Thom Tillis (R-NC) — are leaving Congress at the end of the year.

"Todd Blanche is a STAR, and everyone knows it!" Trump wrote on Truth Social. "He has the potential to go down as one of the Greatest Attorney Generals of All Time."

"I have no objection to temporarily withdrawing Todd's name, if they do not do the right thing, and putting him back after Cornyn and Tillis are out of office," Trump wrote.

Trump also attacked both senators directly, calling them men "whose political careers have been ended by my action" — a reference to his decision not to endorse them. He added that "both Cornyn and Tillis voted for Merrick Garland," invoking former Attorney General Merrick Garland, a name Republicans cite as a symbol of Democratic overreach.

On Capitol Hill Thursday morning, Cornyn told reporters the situation had taken a turn for the worse. Asked whether Blanche could be confirmed before the August recess, he said the odds were against it.

"It's looking doubtful," Cornyn told reporters, according to NBC News congressional reporter Laura Weiss.

Cornyn said talks with Blanche had been "very constructive" and that he believed a deal was close Tuesday night. But by Thursday morning, something had shifted.

"Other people intervening," he said. He told NBC News congressional correspondent Julie Tsirkin he did not know whether the president himself was standing in the way.

At the heart of the standoff is a settlement Trump's Department of Justice reached with the Internal Revenue Service. The deal granted Trump and his family immunity from tax audits and created a nearly $1.8 billion fund to compensate people who said they had been targeted by the government for political reasons.

The fund was later abandoned, but Cornyn wants that abandonment in writing — and wants the audit immunity narrowed so it does not cover future tax filings, according to MS NOW.

"All I want them to do is to confirm what he said in his sworn testimony before the Judiciary Committee, with regard not only to the weaponization fund, but also who is protected from future audits and what agencies of the federal government are bound by the release," Cornyn told reporters, according to CBS News.

The Department of Justice, Cornyn said, had not delivered. "They've simply refused to cooperate," he said, according to The Hill.

As of Thursday morning, Cornyn said he was waiting on a DOJ response to his latest offer and had no meetings or calls scheduled with the White House or the Department of Justice.

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