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Lafayette County Baptist Trust Fund Rebounds $400K Since March

By Alyssa Schnugg

News editor

alyssa.schnugg@hottytoddy.com

The Lafayette County Board of Supervisors received some good news Monday regarding the county’s $20 million trust fund from the sale of the old Baptist hospital.

The fiscal year for the trust fund runs from April 1 to March 31. At the end of the 2023 fiscal year, the fund was valued at $20,057,949 and had taken a hard hit over the fiscal year due to the economy and stock market.

Lafayette County Chancery Building Photo by Talbert Toole

However, according to representatives from Green Square investment firm, at the end of the Fiscal Year 2023/2024 first quarter – June 30 – the fund was valued at $20,325,975 and, as of July 13, it was valued at $20, 493,685.

Both the city of Oxford and Lafayette County received $30M in 2012 when Baptist bought itself out of the old hospital lease to build the current facility. The city put all $30M into a trust fund. The county paid off its debt at $10M and put the remaining $20M into a trust fund.

At the end of the year, the county can take $3 of the fund’s value and has traditionally used those funds to pave and repair county roads. The Board decided not to take that $3 for 2023 since it would have brought the fund under the initial $20M principal.


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