Treasurer

ABOUT THE TREASURER'S OFFICE

The Grand County Treasurer is an elected official who must be a qualified elector of the state of Colorado and a Grand County resident for at least one year before being elected. The Grand County Board of County Commissioners appropriates the treasurer's office budget.
All treasurer's office activities are specifically mandated by the Colorado Constitution and state statutes.

TREASURER RESPONSIBILITIES

1. Collect all real and personal property taxes for the county, the school districts, all towns and more than 100 special districts that operate in the county.  The treasurer is not responsible for calculating or determining the amount of taxes due.  The assessor is responsible for determining the property value.  The state legislature establishes the assessment rate, and the county commissioners, school boards and the boards of directors of the special districts set the tax rate (mill levy) for their district.

2. Account for and disburse all property taxes. More than 70% of the property taxes collected by the Grand County Treasurer are disbursed to the school districts and the special districts.  The Treasurer disburses taxes monthly to each of the taxing authorities but does not disburse funds allocated for county use. The Grand County Commissioners are responsible for disbursing these funds through warrants.

3. Invest county funds until the money is needed to pay obligations.

The Treasurer is not responsible for sales tax assessed in the county.  The state department of revenue collects all county sales tax.

COUNTY BANKER

The Grand County Treasurer serves as the banker for the county and is responsible for receiving and depositing all county revenues, including property taxes. The treasurer is also responsible for investing and safeguarding these funds per state statute until they are disbursed for county expenditures and purchases.

INVESTMENT POLICIES

The treasurer invests certain county funds until they are needed to pay obligations. The general guidelines for selecting investments involve safety, liquidity and earnings.   To assure safety, the county has adopted investment restrictions and procedures, which are more conservative and stringent than state statutes require.  Deposits held in banks are collateralized in excess of FDIC insurance levels.
The county maintains liquidity by investing primarily in bonds issued by the U.S. Treasury and other federal agencies.  The county's portfolio is highly liquid and emphasis is placed on accurately planning to match expenditures.
Given the restrictions of safety and liquidity, the county maximizes earnings through sophisticated institution investing techniques and minimizes the costs of banking and safekeeping. 
Last Updated: 11/2014