Sedona, AZ (November 17, 2011) – Arizona State Treasurer Doug Ducey visited the City of Sedona to discuss the State’s financial outlook. Treasurer Ducey was elected to office in November 2010 as the State Treasurer, who is Arizona’s Chief Financial Officer. He manages a $10.5 billion investment pool, in which the City of Sedona is an investor.
Treasurer Ducey discussed the performance of the investment pool since taking office in January 2011. Prior to being elected State Treasurer, Mr. Ducey’s experience in the private sector helped prepare him for the task of managing billions of taxpayer dollars. Mr. Ducey was the Chief Executive Officer of Cold Stone Creamery until 2007, when he and his business partner sold the company. Mr. Ducey takes pride in reporting the State of Arizona’s finances to the public in a timely and accurate manner. The Office of the Treasurer maintains www.AZcheckbook.com, a website committed to reporting financial transactions of the state.
There are many different investment pools, which the Arizona State Treasurer maintains, that investors can participate. The City of Sedona currently invests in the 5, 7, and 500 series. The investment pools allow municipalities to make investments similar to a money market fund. The City of Sedona has $28 million in the local government investment pools.
Currently, Sedona’s city sales taxes are up approximately 2.4% fiscal year-to-date. The state sales tax portion Sedona receives is currently down approximately 3.5% year-to-date. For more information regarding the City of Sedona’s finances, please visit the Financial Services Department web page at www.SedonaAZ.gov/Finance.