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Arapahoe County Treasurer Doug Milliken wins national award for County’s investment strategy
16 August 2010
Littleton, Colo. – Arapahoe County Treasurer Doug Milliken has received an Award for Excellence from the Association of Public Treasurers of the United States and Canada for investment strategies that earned the County a return on its investments that is more than double the national average and one of the highest in the nation.
The County’s investment portfolio has earned 3.59 percent during 2010, more than double the national average of 1.6 percent for county investment portfolios.
“This is quite an honor,” said Milliken, who is serving his first term as County Treasurer. “With the professional money management techniques we’ve introduced, the County’s investment portfolio has become one of the highest-earning county investment portfolios in the United States. In fact, of the 10,000- plus portfolios we’ve checked no one comes close to earning as much as we are. The higher earnings on our investments translate into lower property taxes for our residents.”
The Award for Excellence was announced July 26 at the association 45th annual conference in Charleston, S.C.
Program uses county funds to encourage local lending
17 July 2010
by: Daniel Smith | YourHub.com
Article Contributed on: 7/15/2010 8:59:05 AM
LITTLETON -- An Arapahoe County investment partnership with local banks is helping existing small-to-medium-sized businesses grow in spite of the continued economic doldrums.
Treasurer Doug Milliken initiated the concept more than a year ago. It involves investing county funds in certificates of deposits at a half dozen local banks that promise to provide loans to county businesses at lower than market rates.
"In talking to businesses in the county, I found out that a lot of credit-worthy businesses couldn't get loans," he said. "It's part of the credit crunch, and partly the banks and partly the regulators of the banks and I thought I should do something here to solve that and get some money to businesses."
Arapahoe County's 'stimulus' plan brings banks, small business together
09 June 2010
BY BRANDON JOHANSSON
The Aurora Sentinel
AURORA | In the year since Arapahoe County Treasurer Doug Milliken launched a program aimed at pumping county dollars into the local economy, area banks have doled out more than $18 million in loans to area businesses.
And, Milliken said, he hopes to put about $22 million more into area banks before the end of the year.
“It’s going very well,” Milliken said of the program, which he dubbed the “Arapahoe County Stimulus Project.”
Under the program, Milliken purchased certificates of deposit in a half dozen local banks with the expectation that the banks will provide loans to small and medium-sized businesses in Arapahoe County. Each CD purchase is protected by the Public Deposit Protection Act and fully collateralized to 102 percent, as well as secured by U.S. Treasury bonds placed in the ownership of the county, according Milliken.
Initially, the plan was to cap loans at $500,000. But Milliken said because of higher demand than originally expected, some of the loans have been for more, including at least one for about $700,000.
Arapahoe County Banking on Local Success
03 June 2009
By Brandon Johansson - The Aurora Sentinel
AURORA | Several local banks are each $5 million richer because of investments from Arapahoe County Treasurer Doug Milliken.
But there is a catch that comes with taking deposits of millions in taxpayer cash: Local banks have to loan the money out, and they can only lend it to local businesses.
"I am expecting job creation and business expansion to occur as a result of this program, which ultimately benefits our citizens and local businesses. In addition, there is full security to Arapahoe County, as well as a better financial return," Milliken said in a statement announcing the plan.
The plan is relatively simple: Milliken purchased certificates of deposit in local banks with the expectation that the banks will provide loans to small and medium-size businesses in Arapahoe County. Each CD purchase will be protected by the Public Deposit Protection Act and will be fully collateralized to 102 percent, as well as be secured by U.S. Treasury bonds placed in the ownership of the county, according to the statement.
CD buys aimed at helping businesses
01 June 2009
Denver Business Journal - by Renee McGaw
Doug Milliken, Arapahoe County treasurer, sits outside the Colorado Business Bank in Littleton. The county is buying CDs from the bank with the requirement they use the cash to make local business loans.
Last year, Doug Milliken watched Congress hammer out measures to boost bank lending, and doubted that much of that money would reach businesses in his county.
Stimulus Done Right
29 May 2009
Arapahoe County is investing its money in the community by buying $5 million in certificates of deposit from local banks. In return, those banks will have the capital to make loans to small businesses that have been hobbled by the credit crunch.
Of all the government stimulus programs I’ve heard about, this one is by far my favorite. Here’s why.
Most of the programs we hear about are not stimulus-minded at their core. I think stimulus has become a misused umbrella term for government expenditures, bailouts and control-heavy takeovers. There is a top-down, “here’s some money, don’t blow it” mentality to most of the programs you hear about on the national scene. There is a sense of throwing money at problems. I don’t like that.
This program, however, seems more like a business move. It’s mutually beneficial. It doesn’t cost taxpayers later on. It’s smart.