Another Division of my office that works hard is the Cash Management and Investment Division. This division not only saves taxpayers money, but creates it!!!! On a daily basis the professionals of my cash management division invest millions of dollars of taxpayer money in an effort to receive the best rate of return while ensuring the safety and security of the principal (your tax dollars).

In order to maximize investment earnings, I established relationships with new financial institutions that previously did not work with the county. I am proud to say that because of these new banking relationships we are now getting much better interest rates on our investments than before, while at the same time reducing the banking fees charged to the county.

For example, during 2006, the professionals in my Division of Cash Management and Investment generated $11,569,924 in total interest earnings compared to $5,691,679 generated in total interest earnings in 2005. Assisted by higher interest rates, new banking relationships, and aggressive cash management practices, my office more than doubled the county's total interest earnings from 2005 to 2006.

By generating higher than budgeted interest earnings, my office produced additional revenue that can be used by the county to support necessary services for the public without increasing taxes. This is just one example of how the comptroller's office can not only save money, but make it!