Commissioners Vote “No Confidence” in County Treasurer Manny Ortiz
Bernalillo County – In a 5-0 vote, county commissioners voted “no confidence” today in Bernalillo County Treasurer Manny Ortiz during a special Board of Finance meeting.
Commission Vice Chair Debbie O’Malley and Commissioner Lonnie Talbert pushed for the “no confidence” vote.
County commissioners and top county administrators have been critical of Treasurer Ortiz’s investment practices that have tied up the county’s cash in long-term investments, which limits cash flow and subjects the county’s investments to market conditions that cause the portfolio to lose value.
“I sincerely hope that Treasurer Ortiz takes this vote of “no confidence” to heart and begins to cooperate with the administration and the board to turnaround our current investment predicament that has caused the county an unnecessary financial burden,” says Commission Vice Chair Debbie O’Malley.
“This “no confidence” vote means that we as a board are not okay with how the treasurer has been investing taxpayers’ money,”says Commissioner Lonnie Talbert. “As elected officials, we have to be accountable to county residents and come up with a new investment policy that serves the community’s needs today and into the future.”
Commissioners, in their Board of Finance capacity, also voted to limit the investment authority of the treasurer until a new investment policy is approved, possibly by the end of this calendar year.
The treasurer is limited to investing all monies not needed for daily county operations in those investments that mature in six months or less.
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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.
Information provided by:
Tia Bland
Public Information Director Bernalillo County
Photo of Manny Ortiz
