Galveston County commissioners on Monday will decide whether to remove certain investment duties from the treasurer’s office over concerns county money isn’t getting high enough returns.

Keri Heath: 409-683-5241; keri.heath@galvnews.com or on Twitter @HeathKeri.



(6) comments

Mark Stevens

this is troubling. The proper objective of investing county money is primarily to safeguard that money. Any time you invest money for appreciation or gain as an objective, you are trading away security and taking risks. Kevin Walsh took the right course in conservative investments. Who is going to make the investment decisions now? The Commissioners appparently don't want Mr. Dugie making those decisions, and I don't see anyone on the commissioners court who is anything like a certified investment counselor. Too much micro management by Mark Henry.

Craig Mason

Henry needs to go!!!

Norman Pappous

As an investment professional reading the quotations of county leadership….. I.Have.No.Words.

Diane Turski

This plan sounds like Galveston County is on the path of gambling on higher returns by following riskier investment strategies that have previously led other counties and municipalities throughout the country into bankruptcy. (i.e. Orange County, CA in 1994.) Mark Stevens is correct that "the proper objective of investing county money is primarily to safeguard that money" for the stakeholders in the county.

Ron Shelby

All. Ask for the latest Investment Report (Along with the Investment Policy) before you judge whether this is a good or bad move. If its been mainly sitting in cash (thereby benefiting only the bank) then this may be an accurate criticism. Take a look first, I'm sure Commissioners have or they wouldn't be suggesting this. The same move occurred when Investments were moved under Finance during the Gerald Burks era. This is nothing new. When your Treasurer isn't working in the office full time on County work, investments can end up taking a back burner to other priorities.

Pat Hallisey

Here we go again! This county is growing and all we get “what we can’t do”. This is not leadership!!

They are in the process of dismanteling the County Park system for what purpose? To save money while increasing the burden of cities. What is happening with the treasurers office? Big raises to keep personnel there? Send. The function to the BBC Auditors office? Who do they think pats pays the bills for the Auditor? Well let’s just dimantle County Government in general and push it to local govt. well get ready cost are already increasing in local govt!! Just wait until the bills come do from Henry’s folly! This is not leadership from a conservative that is going to cost us all a fortune!!! How sad!!?

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