San Bernardino County Auditor-Controller/Treasurer/Tax Collector (ATC) Ensen Mason announced that the County Investment Pool reached a new all-time record high cashbook balance of $11,416,326,585.29 on Tuesday, April 12, 2022.
Record property tax installment receipts from rising property values and the receipt of Federal stimulus and CARES Act funds for the County and Schools Districts have catapulted County Investment Pool balances. The County Investment Pool cashbook value has increased by $4.64 billion since ATC Mason was sworn into office on January 7, 2019.
The pool balance has increased by approximately $1 billion compared to just five months ago on December 14th, 2021. A healthy Inland Empire economy, along with robust growth in housing prices contributed to the increase in the pool’s value. The increase in interest rates during the first quarter of 2022, along with prudent liquidity and interest rate risk management, will greatly benefit future pool earnings. The pool’s yield increased from 0.69% to 0.88% during the same five-month period. Higher pool value combined with higher earnings will augment the services provided to the County’s residents.
“Local government agencies rely on these funds to fund public safety, public schools and the local government safety net so critical to County residents in difficult times,” commented Mason. “A higher yield means that ATC is making taxpayer dollars we already have work harder for all our residents. The more money we earn ourselves, the less we need from other sources.”
Mason also gave credit to his ATC Treasury Division staff. “Much of our continued success belongs to our outstanding Treasury Division team. They are doing a great job during a very challenging investment environment,” Mason concluded.
The San Bernardino County Treasurer’s Office is the official custodian of investments for the San Bernardino County Investment Pool. The Office provides banking services for the County, K-12 Schools, Community Colleges, and Special Districts. The Treasury adheres to conservative investment policies that have maintained an AAAf/S1 rating from Fitch Ratings, the highest attainable ratings assigned by the agency for an investment pool of its type.
ATC is located at 268 W. Hospitality Lane in San Bernardino. Business hours are 8 AM to 5 PM, Monday through Friday. Please visit www.SBCounty.gov/ATC and follow us on social media, @SanBernardinoCountyATC, for the most up-to-date information.
