BERNALILLO COUNTY MAY BE ON THE VERGE OF TAKING SOME DRASTIC ACTION TO AVOID FURTHER INVESTMENT LOSSES. COMMISSIONER WAYNE JOHNSON SAYS THEY MAY HAVE TO LIQUIDATE THEIR INVESTMENT PORTFOLIO…EVEN THOUGH THE COUNTY WOULD TAKE A 23 OR 24 MILLION DOLLAR HIT.
HE TELLS 770 KKOB THE SITUATION ISN'T GETTING ANY BETTER: HE SAYS INTEREST RATES ARE RISING, AND EVERY TIME THAT HAPPENS, THE COUNTY LOSES MORE MONEY ON PAPER.
JOHNSON SAYS THE COUNTY ALREADY CUT ITS BUDGET BY 13 MILLION DOLLARS THIS FISCAL YEAR DUE TO INVESTMENT LOSSES…AND THERE WILL LIKELY BE MORE CUTS NEXT YEAR.
