Maggie Thurber is a former county commissioner, so she has experience with what she's talking about. But more importantly, she's a conservative who understands the role of government in our lives. Lastly, she can read...
the State Auditor has issued a manual for county treasurers which states:Sounds like a pretty open and shut case to me..."The main goal of the county treasurer is to coordinate the county spending with the active/inactive funds. The desire is to match short-term needs with the short-term deposits, and to match long-term needs with long-term investments. It is fiscally irresponsible to invest short-term funds in a long-term investment. This matching can be achieved by coordinating spending with estimates of income. Open communication is necessary between the auditor and the treasurer to plan the timing of the investments. The portfolio should be managed to maximize interest rates while keeping risk to a minimum."(emphasis added)
So, if the investments should be managed to maximize interest rates, has our treasurer done this? Nope! He's decided that, instead of maximizing interest rates, he's going to help people buy art.
