San Diego County's financial stability was underscored anew as Fitch Ratings sustained its 'AAAf/S1' rating for the San Diego County Investment Pool, a reflection of its high credit quality and low market risk sensitivity, according to a press release from the County Treasurer-Tax Collector Dan McAllister. It's a record-setting streak, the 25th consecutive year for the County's investment pool to dock at the highest possible rating, indicating a fortressed position against potential losses and a testament to its sharp financial management.
Currently swelling to $18.1 billion in public assets as of April, due much to the careful navigation by the investment team, McAllister spoke on their commitment to the principles of guarding the invested funds' principal, ensuring liquidity for pool participants, and striving for a return on investment without veering into the dangerous lanes of imprudent risk handling, the county officials scrupulously invest funds in secure fixed income securities, which serve the needs of varied agency operations and capital projects.
“The Fitch rating process is an important measure of our county's fiscal strength and future,” Supervisor Nora Vargas, Chair of the San Diego County Board of Supervisors, said, as shared by San Diego County Treasurer-Tax Collector, “This rating is a testament to our commitment to responsible financial management, ensuring that the public's funds are handled with care and integrity.” Over 200 public agencies in the San Diego region lean into the pool's resources, including public school districts, colleges, and various other public entities such as city and fire districts, who avail themselves of these essential financial services and share in its fiscal strength.
