San Bernardino County’s Investment Pool, which provides funding for the county’s K-12 schools, community colleges and special districts, reached a record $11.6 billion on April 21.
That was an increase of about $1 billion during the previous five months, growth attributable to a strong Inland economy and a “robust” growth in housing prices, said Ensen Mason, the county’s auditor-controller, treasurer and tax collector in a statement on the county’s website.
The county investment pool cashbook value has increased by $4.64 billion since January 7, 2019, according to the statement.
“Local government agencies rely on these funds to pay for public safety, public schools and the local government safety net so critical to county residents in difficult time,” Mason said in the statement. “A higher yield means the [tax collector] is making taxpayer dollars we already have work harder for all of our residents.
“The more money we have ourselves, the less we need from other sources.”
The treasurer’s office oversees the investments made for the county investment pool, according to the statement