My perspective on investments is a global and national view of how markets impact local investment decisions. The Doña Ana County Treasurer’s Office, currently has a strategy that allows for over 30% of its investments to be held in one national financial institution. This bank agreed in February of 2020, to pay $3 billion and admit wrongdoing to settle criminal and civil investigations with the Department of Justice and the Securities and Exchange Commission. Also, regulators imposed a $1.95 trillion asset cap in 2018 as punishment for the bank's fake-accounts scandal that first came to light in 2016. In my opinion, that $30 million of DAC taxpayers’ money, needs to be disbursed to other national banks, as well as, local banks and credit unions.
I would include the New Mexico State Investment Council as an advisor on investment strategy as well as consulting with the current Investment Advisory Committee the DAC Treasurer’s Office utilizes.
The Doña Ana County Treasurer needs to get involved in the Economic Development of DAC if only in an advisory capacity. There are several Economic Development plans in the works, such as the Viva Doña Ana regional project, which includes: the Affordable Housing Plan, the Border Area Economic Development Strategy, the Colonia Master Plan, the Doña Ana County Comprehensive Plan 2040, and more.
Doña Ana County must “Move Forward Together.” We have a diverse community which adds to our culture and character. Beautiful landscapes that we want to preserve. But we also need money to promote, protect and prosper our County. If people don’t have jobs, they can’t pay their taxes, let alone provide food for their families or stay in their homes. The way Doña Ana County can remedy this is to create jobs through Economic Development. There are several plans in place that may take time to develop but get familiar with them and see where you fit in and how your talents and experience can benefit all the residents and the future of Doña Ana County.
Doña Ana County Economic Development Plans include:
The Viva Doña Ana regional project https://www.vivadonaana.org/
Colonia (Community) Master Plan https://www.vivadonaana.org/colonia.php
Doña Ana County Comprehensive Plan 2040 https://www.vivadonaana.org/content/files/DAC_Plan2040_Final_V2_Disclaimer%282%29.pdf
Visit these sites too:
Mesilla Valley Economic Development Alliance https://www.mveda.com/
Welcome to the New Mexico Borderplex https://www.nmborderplex.com/
The Treasurer’s Treasures
Who are the Treasurer’s Treasures? Kids! The children of Doña Ana County need the opportunity to learn the basic of money management.
This needs to be done on an age-appropriate level. That’s why it is so important that kids learn the basics of money as early as possible. Do your children receive cash at birthdays, celebrations or holidays? Then take your child to the bank or credit union and open a savings account. Take 10% of the cash before depositing, for them to spend. Explain the option of the 10% – they can spend that money right away, hold on to it and think about what they really want or for teenagers, put it in their checking account. Then children will start to understand that some money is for spending and some is for saving.
You can make up fun scenarios with your kids to see where their values lie by asking: “What would you do with $50 or $500 or $5,000?” This helps you to understand what they value because that is where their money will be spent. If you think their judgement is off, you can guide them, through humor, to a more realistic view of the basic necessities they’ll need like food, clothing and housing in their future.
Children learn from their parents and their community. When you think they’re ready, talk to your children about a household budget. Don’t necessarily tell them how much money you make, but show them your budget, even if it is just a peice of paper with the month’s expenses for: living space, utilities, food, don’t forget taxes!, insurance, unexpected expenditures, etc. Let them see where the money is spent and they may be more aware of household expenses, when they ask for that big-ticket item.
Two of our local credit unions have youth financial programs:
FLIGHT -Take FLight for children's finances, can be found at the website below:
Kirby Kangaroo Club (ages 2-12), Claim Your Youth (ages13-18), and First Checking for Teens (ages 13-17), can be found at the website below: