Santa Fe County Treasurer reports $700M in cash assets and investment strategy updates

The Santa Fe County Board of County Commissioners held a special meeting on May 7, 2025, to discuss the Fiscal Year 2026 budget, focusing on financial strategies and investment policies. The meeting highlighted the county's current financial status, including a total asset value exceeding $700 million, which encompasses cash reserves and various investments.

During the session, Chief Deputy Treasurer Ochoa reported that the county had $78 million in available cash, with plans to invest $60 million in short-term options to mitigate interest rate risks. This strategy aims to ensure that the county remains agile in its financial management, allowing for quick adjustments in response to market conditions. The discussion also touched on the county's investment in a local government investment pool and the potential for opening a certificate of deposit (CD) at a local bank.

Commissioner Kokari Stone raised questions about the use of artificial intelligence (AI) in predicting the impact of federal tax policies on investments. Ochoa clarified that while recent training focused on improving customer service and payment processing, the integration of AI for investment forecasting is still in its early stages and will depend on the county's policy direction.

The meeting also addressed the county's contracted services, which include statutory requirements for tax bill creation and payment processing. The board discussed the fees associated with online payments, noting that these costs are passed on to taxpayers. The potential for future enhancements in payment processing, including ACH transfers, was also mentioned, with the understanding that negotiations with vendors would determine the final fee structure.

Overall, the meeting underscored the county's commitment to prudent financial management and the exploration of new technologies to enhance service delivery. The next steps will involve further discussions on investment strategies and the finalization of contracts for financial advisory services.