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Navajo County treasurer reports $400M in short-term investments, $7.5M interest and outstanding property-tax balances
Summary
Treasurer told supervisors the county held about $400 million in short-term investments and earned roughly $7.5 million in interest; she reported roughly $90 million collected for 2023 and about $1.9–2.5 million remained outstanding depending on counting methods.
Navajo County Treasurer Carrie presented the county's annual collections and investment report on Aug. 13, saying the treasurer's office collected a little over $90,000,000 in real property taxes for 2023 and currently had about $1.9 million in outstanding 2023 real-property taxes.
On investments, the treasurer reported the county's portfolio had a par value of a little over $400,000,000 in short-term investments and securities as of June 30 and that the county earned a little over $7,500,000 in interest in the most recent reporting period. She said the office prioritizes safety, then liquidity, then yield, and that investments are held until maturity. "We keep investments till they mature. We don't sell investments before that date," she said.
The treasurer also reviewed the treasurer's processing fund and said anticipated revenues for fiscal 2024-25 were estimated at $10,000 based on projected sales of tax-lien certificates. She asked the board to approve receipt of the annual report of collections and delinquencies, settlement of accounts in accordance with ARS 42 dash 18000, and authorization to invest and reinvest funds pursuant to ARS 35 dash 327 g. Board members thanked the treasurer and staff for stewardship and unanimously approved the request.
Why it matters: The reported portfolio and interest earnings affect county cash flow and budget assumptions; the outstanding tax balances indicate continuing collection work and potential lien sales. The board's authorization to invest funds is a routine legal and administrative step under state law.
What happens next: Treasurer's office will continue collection efforts on outstanding taxes, manage the investment portfolio under the stated objectives, and implement whatever administrative steps follow the board's authorization.
