Sandoval County reports $1.7M in year-to-date interest, opens money market fund and reviews investments

Sandoval County Treasurer Taylor told the Board of Finance the county has earned $1.7 million in interest at UMB Bank year-to-date and that UMB recently increased rates—after advocacy from UMB leadership—to 3% starting April 1, boosting county earnings. Taylor said the county opened a money market fund at UMB to increase interest earnings and that the fund is currently yielding about 3.54%. The Department of Finance and Administration (DFA) confirmed that, because the account is a sweeping account, it may be reported as cash rather than as an investment for county reporting.

Frank McDonnell of GPA presented a quarterly investment report showing the county's portfolio characteristics and compliance with internal policy constraints. McDonnell said yields rose across the curve late in the quarter (February–March 2026), partly associated with higher oil prices driven by conflict in the Middle East, and that market pricing and surveys expect at least one 25-basis-point Fed funds cut in coming months. He reported the portfolio's book yield held at about 3.33%, with approximately $47.7 million in cash and cash equivalents and $57.4 million invested at Zions (liquidity ratio roughly 45%). The economic development portion of the portfolio has a book yield near 3.98%.

McDonnell said the portfolio remained within policy for maturities and credit constraints and that overall fiscal-year performance showed modest outperformance versus the benchmark. Treasurer Taylor closed the presentations by thanking the board and said she will include money-market results in future financial reports.