Standard & Poor's gives county investment pool top rating
]San Bernardino County may be facing a $131 million budget deficit over the next two years, but its $4 billion investment pool remains one of the best in the state, Treasurer-Tax Collector Dick Larsen announced Monday.
The county recently received a top rating of AAAf from Stanard & Poor's, an arm of McGraw-Hill Companies, Inc. that publishes financial research and rates stocks and bonds according to investment risk. The county, which is rated quarterly by the company, has received the coveted ranking since 1999.
"As the guardian of the public's dollars it is of utmost importance to me and our office to ensure the county's tax dollars are invested properly and kept safe," Larsen said in a news release.
Essentially, it means the county's investment pool carries the smallest degree of risk and an expectation that any adverse economic factors, such as the flagging economy, will have minimal impacts to the fund, Larsen said.
The county's investment pool is made up of property tax dollars and local government agency funds. For the fiscal year 2007-2008, the county's investment pool yielded more than $175 million in investment earnings.
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