Arapahoe County Treasurer Doug Milliken has been recognized nationally for his investment strategies, which have earned a return more than double the …
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Arapahoe County Treasurer Doug Milliken has been recognized
nationally for his investment strategies, which have earned a
return more than double the national average for counties.
The Award for Excellence is presented annually by the
Association of Public Treasurers of the United States and
The county’s investment portfolio has taken in about 3.6 percent
on total investments so far during 2010. The national average for
the year is 1.6 percent.
Milliken credits his investment decisions for generating what
has been recognized as one of the highest-earning county investment
portfolios in the United States.
“In fact, of the 10,000-plus portfolios we’ve checked, no one
comes close to earning as much as we are,” Milliken said. “The
higher earnings on our investments translate into lower property
taxes for our residents.”
That is due to the Taxpayer’s Bill of Rights. The voter-approved
amendment to the Colorado Constitution requires local governments
to effectively return some investment income back to taxpayers in
the form of lower tax bills.
Milliken is most proud of a much-touted program that he says has
helped local businesses spur the economy while generating an
improved investment for Arapahoe County.
The treasurer has used more than $18 million of county money to
buy certificates of deposit in Arapahoe County banks. The deposits
have been contingent upon the banks lending the money to small and
medium-sized businesses in the county.
The Award for Excellence was announced at the Association of
Public Treasurers’ annual conference in South Carolina.
Milliken, a first-term Democrat, is running for re-election in
November. Republican Aurora City Councilmember Sue Sandstrom is his
challenger, as she was four years ago.
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