Historic High Balance

County’s Investment Pool

Over $10 Billion 

 

San Bernardino County Auditor-Controller/Treasurer/Tax Collector (ATC) Ensen Mason announced Wednesday, July 7th, that the County Investment Pool concluded a historic June by reaching a new record high cashbook balance of $10,041,079,253 on Tuesday, June 29, 2021

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 the County Investment Pool balances by over a billion dollars since 2020. 

“These funds represent dollars that schools use to continue to educate our children while safeguarding their health during the pandemic. Local government agencies rely on them to fund public safety and the local government safety net so critical to County residents in difficult times like these,” commented Mason. “A large percentage of the recent increase in the Pool’s value is from Cares Act funds received from the Federal Government to cover expenses related to the Covid 19 Pandemic, other Federal stimulus payments, and unanticipated revenues from the State of California.” 

Mason also gave credit to his ATC Treasury Division staff. “Much of our continued success belongs to our outstanding Treasury Division team led by talented Chief Deputy Treasurer John Johnson, and long serving Treasury Banking and Settlement Compliance Manager, Wendy Sieruga. Wendy and her staff have primary responsibility for managing cash flow data so the Treasury investment team can maximize safety and return and ensure that our agencies have liquidity when needed. 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 rating assigned by the agency for an investment pool of its type.