Cary Kennedy on Budget & Economy
$5.1M annual earnings from diversifying city investments
As CFO of Denver, Cary led the charge to change the City Charter to allow Denver to diversify where the city invests its money while maintaining the safety of those investments.
With this change, Cary expanded Denver's investment portfolio to include the same securities as the State Treasurer's Office.
This move has already increased earnings by $5.1 million annually and Denver citizens will now permanently see a larger increase on the city's investment returns.
Cary helped develop balanced budget packages for both Denver (2A in 2012) and Colorado (Referendum C in 2005) that were approved by voters.
Source: 2018 CO governor campaign website CaryKennedyForGovernor.com
, Jul 2, 2017
Balanced budget after citizens vote on taxes
When I was CFO in Denver, Denver was recognized as one of the best financially run cities in the country. And also, Forbes, for the first time, recognized Denver as the number-one city in the country to do business.
I worked with the mayor and worked with local businesses to streamline our taxes, to ensure that they have the opportunity to be more successful, to be competitive. So keeping our taxes low is something that's important to me, and
it will be important to me as governor--making sure we have our budget balanced. Our citizens have the final say, and I support the right of our citizens to vote on taxes. But we also need to make sure that we have a budget that allows us to make the
investment in our communities that pays long-term returns on those investments. That's investing in education, and it also allows us to invest in modern infrastructure that allows us to keep up with the demands of a growing economy.
Source: Westword.com on 2018 Colorado gubernatorial race
, Mar 30, 2017
Don't invest state dollars in risky stock portfolios
The Treasurer's office is important--critically important in an economic downturn--and Cary has proven that she takes her responsibilities seriously. She kept the state out of investments tied to the subprime market, rejected proposals to invest
state dollars in risky stock portfolios, and seven months before the banking crisis hit, in a remarkably prescient move, she diversified a 33% chunk of Colorado's investment pool that had been in the hands of one bank.
Under Cary's diligent watch, our state's investments have maintained positive earnings and posted a 3% gain this last fiscal year.
She has protected Colorado's strong credit at a time other states have been downgraded--proof that her sound financial management and careful planning make all the difference.
Source: 2010 CO governor campaign website KennedyForTreasurer.com
, Aug 31, 2010
Give voters more info about where tax dollars are spent
On January 5, 2006, Cary Kennedy announced her candidacy for Colorado State Treasurer, vowing to protect taxpayers' money and give voters more information about where their tax dollars are invested and spent. Kennedy enters the Treasurer's race with
10 years of experience in Colorado finance and a proven track record of leadership--a record which reflects her firm commitment to finding fiscal solutions that balance the budget without cutting wise investments.
"My first priority as treasurer will
be to make sure state funds are invested, managed and spent wisely and that we give taxpayers more information about how their money is being used," said Kennedy.
Kennedy worked in Governor Romer's administration as a budget officer in the Office of
State Planning and Budgeting. Kennedy grew up in Colorado and has a master's degree in public administration from Columbia University and a law degree from the University of Denver College of Law.
Source: 2006 Colorado campaign website KennedyForTreasurer.com
, Nov 4, 2006
Page last updated: Jun 14, 2018