Maricopa County Treasurer’s Office earns $97 million in interest in 2019
Aug 29, 2019, 4:35 AM
(Google Maps Photo)
(Google Maps Photo)
PHOENIX — The Maricopa County Treasurer’s Office earned more interest during the fiscal year that ended in June than in the two previous years combined.
The treasurer’s office obtained $97.6 million dollars in interest and investments during the year, according to a press release.
Last year, the office made $64 million in interest income; in 2017, the total was $22 million.
More than 70% of the money will go to Valley schools, the release said.
“Our office is doing an incredible job of giving back to the taxpayers and our schools,” Treasurer Royce Flora said in the release.
“Thanks to the growing Maricopa County economy and our portfolio manager Mark Thompson, these investment earnings are able to go to the County’s General Fund to support our county schools and other needs.”
The Maricopa County Treasurer’s Office managed more than $16 billion during the most recent fiscal year.
About $4 billion dollars of it was used in protected, short-term investments to generate the interest income, according to the release.
