Elect Linda S. Bolon For Columbiana County Treasurer
THE OFFICE OF COUNTY TREASURER
The County Treasurer plays an important role in the lives of Columbiana County residents. The Treasurer has traditionally served as the local tax collector. This revenue is critical to schools, libraries, parks, municipalities and to the Columbiana County government itself, which provides numerous services to Columbiana County residents.
As tighter budgets and increasing demands have been placed on local government the position of County Treasurer has evolved into an important occupation. Today’s Treasurer serves as the county’s Chief Investment Officer, the Administrator of sophisticated delinquent tax collection programs and the keeper of property tax escrow accounts. As a result, those that hold this position must be individuals who are highly trained in investment, cash management and financial planning strategies to properly manage and safeguard local funds.
As school districts face mounting financial challenges, the responsibilities of County Treasurers have multiplied. County Treasurers face growing pressures from local districts to expedite the tax collection process and increase efforts to collect on delinquent taxes.
Additionally, in many counties the dollars earned from investments are a major source of revenue for the County General Fund. County Treasurers in the smallest counties are responsible for investment portfolios in the $3 to 5$ million range, and more than $300 million in the largest counties. This represents an increase of 100 to 500 percent over portfolio sizes just 10 years ago. As a result, County Treasurers are continually balancing the security of investments with pressures from Commissioners and School Boards to maximize the return on investments.
In 1996, the Ohio General Assembly raised the levels of accountability and qualifications for County Treasurers. Senate Bill 81 increased exponentially the mandatory financial reporting, as well as quarterly and yearly reports of all transactions and investment activities.
In addition, the legislation requires mandatory continuing education courses for all County Treasurers, including 26 hours to be completed by a new Treasurer upon taking office and 13 hours each year following. These standards are similar to continuing education requirements for professional groups such as attorneys and accountants. Ohio is one of only a handful of states that require this level of continuing education for its County Treasurers.
During these difficult financial times local governments and school districts will be presented with even greater budget challenges. Therefore, it is critical that Ohio be able to recruit the top candidates for County Treasurer positions. Treasurers are the individuals Ohioans entrust to invest and manage local funds. Only the most experienced and qualified individuals can meet the upcoming challenges facing tomorrow’s County Treasurers.
Linda S. Bolon has served as our Treasurer for six years. She is qualified and fully understands the challenges of the position. On her first day as our Treasurer she identified a balancing problem caused by a recent bank conversion and was able to quickly make the correction. She also studied the investment accounts and quickly identified a much needed change which resulted in an additional $100,000 in revenue for the County.
She improved security measures, tightened internal controls, made certain staff were cross-trained, computerized many labor intensive operations and by the time the second half tax collection was completed that year she had improved processing time by three weeks.
Mrs. Bolon designed a new tax bill which provides detailed information on how the taxpayers’ money is distributed. Taxpayers are now better informed and can make wiser decisions on issues at the ballot box. Additionally, she designed a web site that provided the taxpayer with valuable information regarding how property is taxed and the process for filing a tax appeal.
Recognizing the condition of the office and the need to provide a more professional updated look Mrs. Bolon took on the difficult task of renovating the Treasurer’s office. With limited funds, donations from the community and hard work she was able to improve the look and functionality of the office and improved operations.
As Chief Financial Officer, Mrs. Bolon was responsible for approximately $200 million dollars which passed through the Treasurer’s office, annually. She was responsible for the collection and distribution of $50 million in real estate taxes, $8 million in personal property taxes and approximately $500,000 in manufactured home taxes, annually. She was also responsible for maintaining a $40 million dollar portfolio where she carefully monitored treasury notes, agency notes, certificates of deposit, money market accounts and commercial paper.
She was also active in the State Treasurers’ Association, working on legislative issues that concerned the taxpayer. Later, as a State Representative she was known as the “go to” legislator for complicated financial legislation.
Mrs. Bolon has spent a lifetime of putting people first. She took a great deal of time working with people who were delinquent with their taxes. She was able to set up payment plans and refer individuals to credit counseling when needed. She established credit card services and installment plans to make paying taxes easier.
If elected, she will return to her former position with greater knowledge and a more driven purpose to serve the citizens of Columbiana County to the best of her ability.
The County Treasurer plays an important role in the lives of Columbiana County residents. The Treasurer has traditionally served as the local tax collector. This revenue is critical to schools, libraries, parks, municipalities and to the Columbiana County government itself, which provides numerous services to Columbiana County residents.
As tighter budgets and increasing demands have been placed on local government the position of County Treasurer has evolved into an important occupation. Today’s Treasurer serves as the county’s Chief Investment Officer, the Administrator of sophisticated delinquent tax collection programs and the keeper of property tax escrow accounts. As a result, those that hold this position must be individuals who are highly trained in investment, cash management and financial planning strategies to properly manage and safeguard local funds.
As school districts face mounting financial challenges, the responsibilities of County Treasurers have multiplied. County Treasurers face growing pressures from local districts to expedite the tax collection process and increase efforts to collect on delinquent taxes.
Additionally, in many counties the dollars earned from investments are a major source of revenue for the County General Fund. County Treasurers in the smallest counties are responsible for investment portfolios in the $3 to 5$ million range, and more than $300 million in the largest counties. This represents an increase of 100 to 500 percent over portfolio sizes just 10 years ago. As a result, County Treasurers are continually balancing the security of investments with pressures from Commissioners and School Boards to maximize the return on investments.
In 1996, the Ohio General Assembly raised the levels of accountability and qualifications for County Treasurers. Senate Bill 81 increased exponentially the mandatory financial reporting, as well as quarterly and yearly reports of all transactions and investment activities.
In addition, the legislation requires mandatory continuing education courses for all County Treasurers, including 26 hours to be completed by a new Treasurer upon taking office and 13 hours each year following. These standards are similar to continuing education requirements for professional groups such as attorneys and accountants. Ohio is one of only a handful of states that require this level of continuing education for its County Treasurers.
During these difficult financial times local governments and school districts will be presented with even greater budget challenges. Therefore, it is critical that Ohio be able to recruit the top candidates for County Treasurer positions. Treasurers are the individuals Ohioans entrust to invest and manage local funds. Only the most experienced and qualified individuals can meet the upcoming challenges facing tomorrow’s County Treasurers.
Linda S. Bolon has served as our Treasurer for six years. She is qualified and fully understands the challenges of the position. On her first day as our Treasurer she identified a balancing problem caused by a recent bank conversion and was able to quickly make the correction. She also studied the investment accounts and quickly identified a much needed change which resulted in an additional $100,000 in revenue for the County.
She improved security measures, tightened internal controls, made certain staff were cross-trained, computerized many labor intensive operations and by the time the second half tax collection was completed that year she had improved processing time by three weeks.
Mrs. Bolon designed a new tax bill which provides detailed information on how the taxpayers’ money is distributed. Taxpayers are now better informed and can make wiser decisions on issues at the ballot box. Additionally, she designed a web site that provided the taxpayer with valuable information regarding how property is taxed and the process for filing a tax appeal.
Recognizing the condition of the office and the need to provide a more professional updated look Mrs. Bolon took on the difficult task of renovating the Treasurer’s office. With limited funds, donations from the community and hard work she was able to improve the look and functionality of the office and improved operations.
As Chief Financial Officer, Mrs. Bolon was responsible for approximately $200 million dollars which passed through the Treasurer’s office, annually. She was responsible for the collection and distribution of $50 million in real estate taxes, $8 million in personal property taxes and approximately $500,000 in manufactured home taxes, annually. She was also responsible for maintaining a $40 million dollar portfolio where she carefully monitored treasury notes, agency notes, certificates of deposit, money market accounts and commercial paper.
She was also active in the State Treasurers’ Association, working on legislative issues that concerned the taxpayer. Later, as a State Representative she was known as the “go to” legislator for complicated financial legislation.
Mrs. Bolon has spent a lifetime of putting people first. She took a great deal of time working with people who were delinquent with their taxes. She was able to set up payment plans and refer individuals to credit counseling when needed. She established credit card services and installment plans to make paying taxes easier.
If elected, she will return to her former position with greater knowledge and a more driven purpose to serve the citizens of Columbiana County to the best of her ability.
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Paid for by Friends of Linda S. Bolon | Thomas L. Bolon, Treasurer | 43 Pueblo Lane | Columbiana, Ohio 44408