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Thursday, February 28, 2008

Torrance in the Black

By Laura Nesbitt
Mountain View Telegraph
    Torrance County is out of the red and into the black with a positive cash balance of more than $2.8 million, according to the county treasurer.
    "I'm trying to build the nest egg for the county," Treasurer James Hall said.
    Hall was elected three years ago and came into office in January 2005 to a negative cash balance.
    According to the Treasurer's Financial Report Fund Summary that Hall reviewed at Wednesday's Torrance County Commission meeting, the county was operating with a negative cash balance of $349,616 in September 2005. Today the county has a $2,851,825 positive cash balance.
    In an effort to help the county increase its cash balance, Hall went to each county department head and helped them "understand that it is important to bring these revenues in," he said.
    "Secondly, thirdly, fourthly I send every penny I can to the investment pool to yield interest, and as it continues to grow I'm actually looking at other banks to invest," he said.
    The New Mexico State Treasurer operates a state investment pool, Hall explained, where the county has invested its money.
    "It yields quite a bit of interest," Hall said.
    Another reason the county is now operating in the black is that detention costs were higher in 2005, Hall said.
    "We had several loans from the state that brought money into the county and helped pay for that detention deficit," Hall said.
    County officials went to the state Legislature and were able to "get those loans turned into grants," Hall said.
    In other county business:
    In a sheriff's department update, Jessica Miller, sheriff's administrator, told commissioners that on Feb. 17 at least 500 people attended a horse racing event south of Ice Plant Road.
    "There were easily 400 vehicles at the race," Lt. John Stocum said in an interview after the meeting.
    "It's not illegal to have a quarter mile track to train your horse, but it becomes questionable when you start charging admission to watch events," Stocum said.
    On Aug. 14 the county code enforcement officer, Sgt. Richard Ledbetter, sent a letter to Ramon Gonzales, Jr. advising him that the zoning on his property "does not permit a horse training facility or horse racetrack" and advising him to apply for a special use permit.
    "If they were to put the facility in a more appropriate zone closer to a highway, then it would be more logical that the county would accept these activities," said Arthur Faust, county planning and zoning director.