Dear editor:
On this year’s general election ballot, you will see an opportunity to vote FOR Amendment A. This initiative would provide an option for counties to expand their investment of general funds into equities.
Amendment A isn’t a new concept; it is widely practiced across the country. In 1996, a Constitutional amendment was passed allowing the State of Wyoming to invest the Permanent Wyoming Mineral Trust Fund (PWMTF) into secure equities.
This change allowed for the PWNTF’s rapid growth and compounding returns on that growth. The State has endured significant tax revenue losses with federal policies discouraging coal, oil, and gas development. Today, because of the State’s investments policies, one-third of State revenues come from income from the PWMTF, not taxes. Amendment A would allow counties the same opportunity.
Amendment A, subject to legislative authorization, will be a choice for each county in the State of Wyoming. Funds will be invested through professional portfolio managers and not individual counties. Professionals would be responsible for ensuring stable returns over a long-term period with a focus on security and steady growth.
With our state facing challenging economic times, every tax dollar must be maximized. However, a strong future for counties requires us to be good stewards of our budgets by making intelligent investments smartly and conservatively.
Constitutional Amendment A will give counties another option to manage their budgets wisely in a skillful way to help counties thrive and allow for the responsible growth of funds with oversight
You, the voters, currently allow the State of Wyoming to invest in this same manner, producing steady, long-term returns focused on security and stable growth. We ask that you allow the individual counties, this same opportunity.
When you vote this fall, vote YES on Amendment A.
Rick Grant
Converse County Commissioner
