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Santa Fe County Treasurer Recommends Continued Use of LGIP, Short‑term Investment Strategy
Summary
Treasurer Montanatos told the Board of Finance the county has deposited another $15 million into the state Local Government Investment Pool and recommended leaning on short‑term investments and selective CD purchases in the near term; commissioners asked about partnering with state investment bodies and local credit unions.
Treasurer Anna Montanatos reported to the county board that, following second‑half property tax collections, Santa Fe County has again parked funds in the state Local Government Investment Pool (LGIP), including a $15,000,000 deposit. Montanatos said the county’s cash‑management approach will continue to favor short‑term placements that preserve liquidity should distributions or other needs arise.
Montanatos told commissioners the county’s market outlook is uncertain ahead of potential Federal Reserve rate moves and noted recent institutional account balances across custodial banks. She described outreach to local credit unions such as Sunward and said staff will discuss increased collaboration to offer constituents additional places to pay property taxes locally.
Commissioner Justin Green asked whether county funds or longer‑term reserves could participate in investments run by the State Investment Council; Montanatos said staff will research that question and bring options to the investment committee. Commissioners also discussed whether banking relationships should include performance or community‑investment metrics as part of selection criteria.
Manager Schafer and Montanatos said staff will prepare a written investment strategy document for the record and to be included in packet materials; the board approved a motion to continue the six‑month approach focused on LGIP with flexibility to use short‑term CDs where advantageous. The board voted unanimously to accept the report and the investment approach.
