[{"_1":2,"_87":-5,"_88":-5},"loaderData",{"_3":4,"_26":27},"root",{"_5":6,"_17":10,"_18":19,"_20":21,"_22":10,"_23":-5,"_24":-5,"_25":10},"user",{"_7":8,"_9":10,"_11":10,"_12":-5,"_13":-5,"_14":15,"_16":-5},"roles",[],"isAuthenticated",false,"isPremium","planName","subscriptionStatus","featureFlags",{},"insightsBudget","isDevelopmentHost","userPreferences",{},"recaptchaSiteKey","6LcvOJcUAAAAAHsB-gPGfGktcRlKpH7OTIU_dMTD","isImpersonating","impersonation","affiliateStatus","isFreedomPortal","routes/v2/article/layout",{"_28":29,"_30":31},"notFound",true,"relatedArticles",[32,75],{"_33":34,"_35":36,"_37":38,"_39":40,"_41":42,"_43":44,"_45":46,"_47":48,"_49":50,"_51":52,"_53":54,"_55":56,"_57":58,"_59":60,"_61":62,"_63":64,"_65":66,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},"mediaId",6709491,"mediaKeyId","5442462-83addafdbe6753da475bf6d6f6efa749","parentId",5442462,"title","Investment advisers report $1.4M interest, ARPA liquidation and corrected commercial‑paper limit breach","audioSeconds",400,"startMs",567000,"endMs",967000,"viewUrl","/Search/View?dp=1&key=5442462-83addafdbe6753da475bf6d6f6efa749&start=567&end=967","thumbnailUrl","https://assets.pipeline.soar.com/5442462-83addafdbe6753da475bf6d6f6efa749/thumbnail_567000.jpg","articleUrl","/articles/6709491/Sandoval-County/New-Mexico/Investment-advisers-report-14M-interest-ARPA-liquidation-and-corrected-commercialpaper-limit-breach","mediaUrl","https://secure.pipeline.soar.com/6709491-58cc38203870a068afef79499e027989/orig.mp4?Expires=1775478696&Signature=ANkpeGes8nql3Rgjtf2WhSXSUhD1zAUGdkjAd85oBu1zDZTGl7BAZZ7S~2qwqAapxBluCbvYlHjFH7-FTT7gzWpjTYDMmQsbrrsKob3Son4n61NwL9ncSOD2MBUhHzmunncONB~sX9ANOLCdZhfcBH7cdW8fZAP6RdC4OjdONfJQ5o97OtqVI6Vr5cV76LnXOkdfY1oa-LHmQpFw-1cVqxHHQ3UE0NHlu-IR1xcHK6J7fOVAUMGIWrWMxlF5f5nNUGow6OjdqrZUfeJ~OxnUTyqdqa3vjwHTIJvZiDyGOCBcSjuseGQCqmW-BJxWeMTH2ZihnA3z4bhTZiVn2qjUwg__&Key-Pair-Id=KUT5TJCACFTXG","author","Sandoval County","date","2025-07-22T00:00:00Z","article","Advisers from GPA told the Sandoval County Investment Committee that the county’s interest‑bearing accounts have earned about $1,400,000 since January, with bank deposits earning roughly 3.75% on interest‑bearing accounts, and that the county currently has about $60,600,000 invested at Zions and in LGIPs.

Diane and Frank, the advisers reporting for GPA, gave a market overview and portfolio compliance briefing. Frank described a downward shift in the yield curve since Q1 2025 and said advisers expect short‑term yields to decline if the Federal Reserve eases rates. Diane summarized portfolio positioning: the composite is overweighted to U.S. Treasuries within policy constraints, the weighted average maturity is approximately one year, and the investment policy limits purchases to maturities of five years or less.

Diane disclosed a compliance lapse on a short‑term commercial‑paper purchase: on May 16 the team placed a $10,000,000 commercial‑paper order in a Walmart‑named issuer in the cash‑matched account, which exceeded the portfolio’s issuer concentration limit. Diane said the purchase was a one‑month paper that matured and cleared on June 16, the team immediately notified the treasurer, and the position was corrected. Diane characterized the issuer as creditworthy but acknowledged the trade exceeded the stated limit and reported it to oversight.

Treasurer Taylor and advisers said the county recently liquidated the remaining $6,000,000 of ARPA funds and returned them to county control because the funds were encumbered and are being dispersed. Diane reported the portfolio’s book yield including bank deposits was about 3.93%, near the committee’s 4% target, and the portfolio produced a small outperformance versus its 0–5‑year Treasury benchmark for the fiscal year to date.

Advisers also reported portfolio constraints and composition: roughly 42% of assets remain in bank deposits (short‑term liquidity), a 50% weighting in overnight short‑term money is being managed toward a lower target consistent with policy, no callable securities are held, and about 5% of assets are supranational. Diane noted the portfolio’s longest purchased maturity was about 5.17 years and the team is managing duration to an approximately one‑year weighted‑average maturity.

Why it matters: The disclosure of the brief issuer‑limit breach is material to oversight and shows the advisers corrected the trade and notified the treasurer. The liquidation of ARPA funds and the near‑4% portfolio yield affect county liquidity and expected investment income going forward.

No formal investment policy changes were proposed at the meeting; staff said they would continue to manage maturities and liquidity to meet disbursement needs and policy constraints.

","mediaType","Video","parentTitle","Sandoval County - Investment Committee - Jul 22, 2025","oneSentenceSummary","Advisers told Sandoval County’s investment committee the county earned about $1.4 million in interest year to date, liquidated the last $6 million of ARPA funds back to the county, and reported a temporary commercial‑paper issuer limit breach that was corrected and reported to the treasurer.","taxTitle","Sandoval County, New Mexico","taxId",2697,"location","headline","","shortSummary",{"_33":76,"_35":36,"_37":38,"_39":77,"_41":78,"_43":79,"_45":80,"_47":81,"_49":82,"_51":83,"_53":84,"_55":56,"_57":58,"_59":85,"_61":62,"_63":64,"_65":86,"_67":68,"_69":70,"_71":68,"_72":73,"_74":73},6709496,"Sandoval County treasurer reports full staffing, delinquent-tax auctions and high collection rates",153,39000,192000,"/Search/View?dp=1&key=5442462-83addafdbe6753da475bf6d6f6efa749&start=39&end=192","https://assets.pipeline.soar.com/5442462-83addafdbe6753da475bf6d6f6efa749/thumbnail_39000.jpg","/articles/6709496/Sandoval-County/New-Mexico/Sandoval-County-treasurer-reports-full-staffing-delinquent-tax-auctions-and-high-collection-rates","https://secure.pipeline.soar.com/6709496-7c3ecedfd26174d868208267aca7911a/orig.mp4?Expires=1775478696&Signature=kp67A1WfcpIZWHeo2IcyG~pd3PEGjjMTdWDvu0HVDblSt-~MGGynfdnPqImhDvWJ~NQRfVdZ9m1JAdmhqJx7eC~UcW68RpA3b5vEIYY6EBUd0kArZlH0MjqKF6ocy4ue~HMlc4iUr9IxOkQgucD07bjoiEUqsc2-eFbBKL25nQiC3GzC5l89OBgychFkomGkZ9WJwGIdZ4-LUHLSHIbojwxg3Klhdet6MxF8LfcpjiISStNMBd6qSP~csieX~RjvITrVak9zqn23r9B5fWGu5bbqg4g4H4gWJXPWPPzWWiUcHxsiYhyCswx20zoRRvehLrrFvdNLy2WeZzc1dRjLKA__&Key-Pair-Id=KUT5TJCACFTXG","Treasurer Taylor told the Sandoval County Investment Committee that the treasurer’s office currently has all positions filled and introduced a recent hire, Sean La LaBarbara, as the office continues regular operations.

The update also covered delinquent-tax enforcement and collection statistics: the county ran a residential and land tax auction in March for properties three or more years delinquent and is planning a second auction on Aug. 27–28 at the Bernalillo Recreation Center, 370 Rotary Park Road, Bernalillo. The office also plans its first in‑house manufactured‑home auction tentatively scheduled for Oct. 24 in the county commission chambers, Treasurer Taylor said.

The manufactured‑home auction differs from the state-handled residential and land sales because, Taylor said, the county will retain fees, interest and penalties collected on manufactured-home sales. Taylor credited tax researcher Martin Steven for preparing the manufactured‑home process and said the enforcement work has prompted some property owners to pay or enter installment agreements.

Deputy Treasurer Jessica McParland presented collections figures through May 31. McParland said in‑house processing totaled $53,600,000; web payments were $20,200,000; point‑of‑sale payments $1,100,000; and outreach collection efforts brought in $160,800 for the 2024 tax year. Separately, McParland said a $125 “cost to state” fee is assessed under state statute for accounts delinquent more than two years; the fee was applied to 2022 accounts and the charges totaled $91,375, with a current balance of $89,152.66 as payments continue.

Treasury Operations Manager Holly Aguilar summarized tax maintenance and gross receipts tax results. She said the county collected 97.27% of the 2024 second‑half tax roll and 99.25% for the 10 years of taxes charged to the treasurer, figures she described as above the five‑year average. She also noted gross receipts tax receipts are down year over year, which she attributed primarily to a decrease in construction activity compared with last year.

On bank balances, Taylor reported the county’s general fund balance at $56,300,000, a tax payment account at $3,700,000, and total balances across accounts of $70,100,000. Taylor listed individual depository balances including Wells Fargo ($57,800), Jemez Valley Credit Union ($150,300) and Century Bank ($4,200,000).

Votes at a glance

The committee approved the minutes for the April meeting. Treasurer Taylor asked for a motion; a member moved and another seconded. Roll call votes recorded in the transcript: Treasurer Taylor — yes; Deputy Treasurer Jessica McParland — yes; Treasury Operations Manager Holly Aguilar — yes; Commissioner Brook — yes; Robert Bridal — “Abstain, I was absent.”; Christopher Daniel — aye; Kelly Wainwright — yes; Chairman Meeke — yes; Director Cassandra Herrera — yes; County Manager Johnson — yes. The motion carried.

The meeting concluded with a motion and second to adjourn, which the committee approved.

Why it matters: The treasurer’s enforcement actions and the planned manufactured‑home auction represent a change in how Sandoval County will handle certain delinquent accounts, which the treasurer’s office said is already prompting payments and installment agreements. The collection and bank‑balance figures provide a snapshot of the county’s near‑term liquidity ahead of upcoming maturities and disbursements.

The committee did not take additional policy actions at the meeting; staff indicated the manufactured‑home auction will follow statutory notice and procedural requirements before properties are offered for sale.

","At its third quarterly investment meeting, Treasurer Taylor reported all positions in the treasurer’s office are filled, previews delinquent-tax auctions including a first-ever manufactured-home auction, and said collections remain above recent averages.","actionData","errors"]

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Investment advisers report $1.4M interest, ARPA liquidation and corrected commercial‑paper limit breach

Sandoval County treasurer reports full staffing, delinquent-tax auctions and high collection rates