Garfield County investment portfolio yields strong return
County earned nearly $1.9 million in income on investments in 2017
March 7, 2018
GARFIELD COUNTY, Colo. – Garfield County’s income on investments report showed a strong return in 2017. Garfield County Treasurer Karla Bagley said the county earned close to $1.9 million on its investments last year.
“At the end of December, we had $36 million in actual cash, and just over $87 million invested in the market,” Bagley told the Board of County Commissioners. “So the total portfolio at the end of the year was $123 million. We’re just right on track with the strategy we’ve developed with our investment advisor.”
She added that the future outlook is positive for the county’s investment portfolio. The county’s portfolio features both county-managed and advisor managed investments.
Bagley said that the Garfield County Investment Advisory Board, along with the county’s investment advisor, have been very active in developing the investment strategy. She also stated it’s important to note the types of investments that can be made with public funds is limited by Colorado law.
The projected investment income for 2017 was $1 million, making the actual return a boon for the county.
The Investment Advisory Board includes Bagley, Commissioner Tom Jankovsky, County Manager Kevin Batchelder, County Attorney Tari Williams, Garfield County Finance Director Theresa Wagenman, Alpine Bank Regional President Jay Rickstrew, and Mike Harman, the former finance director for the city of Glenwood Springs. The county’s portfolio is managed by Public Trust Advisors, LLC.
“I would say the investment team earned their salt,” said Commissioner John Martin.Investments