ALBUQUERQUE (KRQE) - Bernalillo County commissioners have called a special meeting on Monday to consider a no-confidence vote against County Treasurer Manny Ortiz.
Ortiz handles the investment account containing tax receipts and used to pay the county's bills.
But with huge parts of that account tied up in long-term investments, the county has faced a cash crunch.
Any vote of no-confidence would be largely symbolic, however, since Ortiz is an elected official operating independently from the County Commission.
The treasurer has already sold some investments at a loss of about $750,000 to raise cash, and county leaders are so worried more losses will follow that they've halted roughly $20 million in projects and purchases for everything from road fixes to a new fire truck.
This week another $20-$25 million worth of cuts were set in motion as the county considers slashing programs and jobs to save money.
At a meeting Monday night the treasurer's own investment committee voted to limit Ortiz's strategy allowing him only to put money in short-term investments through next June.
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