Commissioners to Hold Special Meeting on Monday to Consider “No Confidence” Vote Regarding County Treasurer
Bernalillo County – Bernalillo County Commissioners will meet during a special meeting on Monday, Nov. 4 to consider a vote of “No Confidence” in Bernalillo County Treasurer Manny Ortiz and to take action on related matters regarding the treasurer and his current investment practices.
Commission Vice Chair Debbie O’Malley and Commissioner Lonnie Talbert requested that the Board of County Commissioners add the “no confidence” vote to the Board of Finance meeting agenda.
The Board of Commissioners and the county administration have been at odds with County Treasurer Manny Ortiz regarding his investment strategy.
Ortiz has favored long-term investments, which reduced on-hand available cash for monthly bills, while also increasing the probability that the county will lose more money when investments are cashed in early to cover county financial obligations.
The treasurer now says he will only buy short-term 6 month investments while he and other members of the County Investment Committee hash out a new investment policy.
“This is a serious matter and I think we need to send a strong message to Treasurer Ortiz that we are not pleased with the way he has handled the situation so far, and we need cooperation from him to create an effective investment policy,” says Commission Vice Chair Debbie O’Malley.
“The citizens of Bernalillo County need to be assured that the board and the treasurer are working together to manage taxpayers’ money responsibly,” says Commissioner Lonnie Talbert.
“The county needs an investment portfolio that maintains its value and does not cause taxpayers to lose millions of dollars from risky investment practices.”
The Board of Finance meeting will be held Monday, Nov. 4 at noon in Conference Room B on the 10th floor of the Albuquerque/Bernalillo County Government Center.
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About Bernalillo County
Bernalillo County is 1,160 square miles and is New Mexico’s most populous county with 670,000 residents. Bernalillo County government provides a wide range of public services to residents who live in the city and to the 114,000 residents who live outside the city limits in the unincorporated areas of the county. Bernalillo County employs approximately 2,400 people and has an annual operating budget and capital investments of more than $500 million. Elected officials include five county commissioners, assessor, clerk, probate judge, sheriff and treasurer.
This Press Release provided by:
Tia Bland
Public Information Director
Photo is of County Treasurer Manny Ortiz
