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San Juan County reports nearly $2.0 million in investment earnings for first half of fiscal year
Summary
County finance staff told commissioners that cash and investments are strong and that investment earnings for the first six months totaled $1,951,739.12, far outpacing the prior year.
San Juan County finance staff told the commission on Tuesday that the county’s pooled investments earned $1,951,739.12 in the first six months of the fiscal year.
The report, delivered to the board of finance as required twice yearly, showed returns well ahead of recent years. “County Investments earned $1,951,739.12,” presenter Miss Talby told commissioners during the board-of-finance segment of the meeting.
County staff said that the total represents a 339% increase compared with the same period in fiscal 2022 and is about 15% above the previous year. The presenter also said the return on investment increased “11% of this over the same period in FY 2023” and that total invested dollars are more than double what they were in fiscal 2021. Cash and investments as of Dec. 31 were described as a “great cash position,” with a corrected total roughly in the $118 million range after a reporting adjustment.
Commissioners moved into and then out of the board of finance to receive the presentation; no additional action was taken beyond accepting the report. The county finance staff said they expect continued earnings through 2025 based on the county’s investment strategy and market conditions.
The presentation concluded with staff inviting questions from the commission and offering to stand for follow-up. Commissioners did not direct additional immediate steps beyond receiving the semiannual report.
