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County Treasurer Bearce Announces Strong Second Quarter Results

02/12/2019

Bernalillo County Treasurer Nancy M. Bearce announced the 2019 fiscal year (FY19) quarterly results today at the County Board of Finance meeting.

Treasurer Bearce presented the operations and investment results to the board and the public at large. The Board of Finance meets quarterly at the Vincent C. Griego Chambers at One Civic Plaza.

Highlights of the second quarter include:

  • Collected nearly 56 percent of 2018 taxes
  • Distributed $120 million to more than 70 entities
  • Investment income was nearly $2.2 million, an 80 percent increase over the first quarter of FY19
  • Nearly $3.4 million interest income, year to date, a 119 percent increase over the same period of FY18
  • Investment income up primarily due to rising interest rate environment, while keeping bank deposit funds at minimal levels
  • Clean county external audit, released by the state auditor

“The second quarter of any fiscal year is a busy time in the Treasurer’s Office,” says County Treasurer Nancy Bearce. “My staff and I are committed to serving the Bernalillo County taxpayers in the best way possible, and our strong second quarter results affirm that commitment.”

Treasurer Bearce attributes these strong numbers to the rising interest rate environment, as well as a concerted effort by her staff to reduce bank balances in search of higher investment yields.

The breakdown of the tax collection distribution for the FY19 second quarter is as follows:

  • 22.35% - Bernalillo County· 22.75 % - APS
  • 20.87% - City of Albuquerque
  • 14.81% - UNMH
  • 8.95% - CNM
  • 3.42% - State of New Mexico
  • 6.85% - Other
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