Sedona AZ (November 16, 2011) – Arizona State Treasurer Doug Ducey visited the City of Sedona to discuss the State’s financial outlook. 

Ducey was elected to office in November 2010 as the State Treasurer, Arizona’s Chief Financial Officer. The City of Sedona is an investor in the $10.5 billion investment pool that Ducey manages. During his visit, he discussed the performance of that investment pool since assuming the duties of the office in January 2011.

Prior to being elected Arizona State Treasurer, Mr. Ducey’s “experience in the private sector helped prepare him for the task of managing billions of taxpayer dollars,” states the City’s press release. Mr. Ducey was the Chief Executive Officer of Cold Stone Creamery until 2007, when he and his business partner sold the company.

The Arizona State Treasurer manages many different investment pools. The City of Sedona currently invests in the 5, 7, and 500 series allowing the incorporated city and other municipalities to make investments similar to a money market fund.

The City of Sedona has $28 million in the local government investment pools. Currently, Sedona’s city sales taxes increased approximately 2.4% fiscal year-to-date in 2011. The state sales tax portion Sedona receives decreased approximately 3.5% year-to-date in 2011.

For more information regarding the City of Sedona’s finances, visit www.SedonaAZ.gov. 

The Office of the Treasurer maintains AZcheckbook.com, a website committed to the reporting of Arizona’s financial transactions. 

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