LISBON — Columbiana County Treasurer Bryan Blakeman indicated Wednesday that he’s preparing the county’s investment portfolio for a hit in case the 1 percent sales tax renewal fails again.

“We can’t continue reinvesting what we have, we need to have some available,” he said.

Blakeman and the county’s investment advisor, Jim McCourt, of Meeder Public Funds, advised county commissioners of the investment strategy being followed during the county Investment Advisory Board meeting, which is held quarterly within a commissioners’ meeting. The board includes the three county commissioners, Blakeman and county Clerk of Courts Anthony Dattilio.

The portfolio includes the STAR Ohio account, which is liquid funds, and totaled $26,766,511 as of Dec. 31, and the securities or short or long-term investments which totaled $113,052,734 as of Dec. 31.

“We’re making some preemptive moves,” Blakeman said, explaining that some investments may not be renewed for long-term so the money is more accessible if necessary.

He described the funds like a piggy bank they may have to break into, sort of a rainy day fund, in case the 1 percent sales tax renewal doesn’t pass in May.

“We’re watching and waiting to see what’s going to happen,” Blakeman said.

McCourt explained what’s been happening in the market and how the county took advantage of the higher interest rates, but now the rates are starting to drop, but the county still has some investments locked in at the higher rate.

He said it’s going to be important to keep an eye on STAR Ohio, the liquid account.

The 1 percent sales tax represents more than $14 million per year for the general fund, which funds most of the county operations, including all the courts, the sheriff’s office, the jail, the prosecutor, treasurer, recorder, auditor, board of elections and commissioners. The general fund keeps the lights on and everything operating.

Blakeman described the investment portfolio as a backstop in case the county ever has a big issue. If the sales tax doesn’t pass and the county has to start dipping into that, the interest income will go down and is likely already going down as they wait to see what happens and hold off on some of the longterm investments.

He said it’s no different than if someone had all their money in a bank and suddenly lost their job and had to start dipping into the savings. That’s money that could have been used for improvements or projects.