Unveiling the Mystery: Where Your Local Tax Dollars Really Go – A 12News Investigation

Arizona State Treasurer Kimberly Yee oversees a significant and expanding financial operation known as the Local Government Investment Pool. This initiative is designed to manage billions in tax revenue collected from towns, counties, cities, and tribal nations across the state.

Currently, the fund holds nearly $8 billion, which can generate tens of millions in returns during favorable months. These profits are redistributed to local governments, effectively enhancing their financial resources.

The investment pool is particularly beneficial for local governments that collect tax revenues but may not require immediate access to those funds. By pooling their resources, they can maximize returns until the money is needed.

Under Yee’s leadership, the fund has seen more than double the inflow of capital. Her team of state employee money managers has established a reputation for effective investment strategies, offering local governments a cost-effective alternative to private market options.

As Arizona’s financial landscape continues to evolve, the Local Government Investment Pool serves as a critical resource, allowing cities and towns to optimize their fiscal management while ensuring robust returns on their investments.