Dona Ana County issued the following announcement on Oct. 14.
In his annual investment presentation to the Doña Ana Board of County Commissioners Tuesday, Oct. 13, County Treasurer Eric L. Rodriguez reported another 28 percent increase in investment earnings for the end of fiscal period 2020.
The detailed report showed an increase in earnings from $1,247,000 in FY19 to $1,590,000 in FY20. While the earnings were a success story for the County’s coffers, the outlook of the portfolio in years to come is not so positive.
“We have raised the bar in the last few years, and the current economic downturn will make it difficult to see that level of returns in the near future,” Rodriguez said. “The report forecasts a decrease in investment revenue earnings by 40 percent in the next Fiscal Year, 2021. However a decrease in revenue does not mean losses for the portfolio, as all of our investments meet statutory guidelines that insure the safety of principle.”
In his report, Rodriguez said that all of the county’s holdings are in low risk, prime credit or FDIC insured securities, ensuring that the County’s risk exposure is minimal.
In addition, Rodriguez provided a breakdown of the portfolio’s diversified assets, which continues to include over $14 million invested in local community banks.
According to the report, the portfolio meets all of its objectives, which include safety, liquidity and return.
“Though the outlook for returns is challenging, the overall county portfolio is in a healthy position, with well managed reserve levels and security of principle,” Rodriguez said. “My primary goal continues to be the safety of taxpayer dollars.”
Original source can be found here.
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