State of Colorado secondary Archives: on Budget & Economy

Cary Kennedy: $5.1M annual earnings from diversifying city investments

As CFO of Denver, Cary led the charge to change the City Charter to allow Denver to diversify where the city invests its money while maintaining the safety of those investments. With this change, Cary expanded Denver's investment portfolio to include the same securities as the State Treasurer's Office. This move has already increased earnings by $5.1 million annually and Denver citizens will now permanently see a larger increase on the city's investment returns.

Cary helped develop balanced budget packages for both Denver (2A in 2012) and Colorado (Referendum C in 2005) that were approved by voters.

Source: 2018 CO governor campaign website Jul 2, 2017

Cary Kennedy: Don't invest state dollars in risky stock portfolios

The Treasurer's office is important--critically important in an economic downturn--and Cary has proven that she takes her responsibilities seriously. She kept the state out of investments tied to the subprime market, rejected proposals to invest state dollars in risky stock portfolios, and seven months before the banking crisis hit, in a remarkably prescient move, she diversified a 33% chunk of Colorado's investment pool that had been in the hands of one bank. Under Cary's diligent watch, our state's investments have maintained positive earnings and posted a 3% gain this last fiscal year. She has protected Colorado's strong credit at a time other states have been downgraded--proof that her sound financial management and careful planning make all the difference.
Source: 2010 CO governor campaign website Aug 31, 2010

  • The above quotations are from State of Colorado Politicians: secondary Archives.
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Page last updated: Feb 12, 2018