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County treasurer reports stronger investment yields, requests authority to sweep accounts
Summary
Navajo County treasurer presented the annual collections report and asked supervisors to authorize investing and reinvesting county, school and special district funds for FY 2025-26; staff said switching to a sweep account and higher rates increased interest earnings.
Navajo County—s treasurer delivered the annual report on tax charge and collections for fiscal 2024-25 and asked the board to authorize investing and reinvesting county, school and special district funds for fiscal year 2025-26.
Treasurer Earl said the county—s taxes charged for collection were reduced by board orders and corrections to $97,100,090 and that the office had collected $93,956,358.67 as of June (figures from the presentation). He highlighted that investment interest income had increased substantially compared with the COVID-era portfolio, noting July interest rose from about $816,000 in 2024 to about $1,580,000 in July 2025 and that interest income was up roughly 13.4% year over year. The treasurer told the board he converted the county general ledger to a sweep account so county funds are invested daily and described holdings in Wells Fargo money market and high-rated funds; when asked by the board he said the principal is secured.
Under ARS citation presented in the meeting, the treasurer sought authorization to invest and reinvest county funds for the coming fiscal year. After questions and brief praise for the treasurer—s office, the board moved to approve the request; the motion passed unanimously.
