The sale of the Butler Area Sewer Authority to Pennsylvania American Water netted Butler about $90 million, and it appears that money has been invested wisely.

We learned in the Friday, Oct. 10, edition of the Butler Eagle that one of the accounts, an investment account with NexTier Wealth Management, has grown nearly 4.5% since February. The $32.5 million account added $1.5 million in about eight months, according to Tony Pratt with NexTier.

He said he expected the account, now worth about $34 million, would add another $1.2 million over the next year. All the money is invested in government bonds.

“So, you are getting better than money market rates, you can’t expect to get a whole lot more than that. These are U.S. Treasuries, mostly. So there’s nothing rough. We’re not buying any stocks or anything like that,” Pratt said.

The money in the investment account is one of three pools of money the city created from the BASA sale. Another is for projects needed in the next five years and the third is a long-term trust with PNC Bank.

The sale of BASA represented a windfall for Butler taxpayers, and it was important to invest that money wisely. While the sale is only a little more than a year old, it appears that’s exactly what is happening.

The investment account should allow the city to continue to fund projects that will improve quality of life for everyone. That’s an excellent use for the money.

— JK