State Treasurer Mark Gordon speaks here on Amendment A

Wyoming State Treasurer Mark Gordon stopped into the offices of the Independent Record on Saturday morning to discuss Amendment A, an issue that will appear on the ballot Nov. 8.

Currently, Wyoming’s funds are split into two areas – permanent funds and non-permanent funds. The Wyoming Constitution allows permanent funds to be invested in equities.

According to Gordon, Amendment A would allow legislature to invest non-permanent funds in the stock market as well, as long as there is a two-thirds approval vote in both chambers of legislature. The permanent funds are growing at approximately three times the rate of non-permanent funds, based on their stock market growth.

“It’s hard to determine how much more money the state can make by allowing Amendment A,” Gordon said. “In 2002, our stocks were doing three times better than what we were getting as a normal interest rate. Simplistically, we could see $500 million more if we are allowed to invest the non-permanent funds.”

If the amendment passes, the funds will be under the same scrutiny as our permanent funds as far as the investments go.

The State Lands and Investment Board (SLIB) sets the investment policy, saying they want “x” amount of this type stock and “x” amount of this type. The state has an investment company they work with that makes recommendations then tracks how the funds are doing on a quarterly basis. No single person, including the state treasurer, will have the power to make trades or investments without a two-thirds concurrence by both state houses.

“Right now, Wyoming is leaving money on the table at a time we can’t afford to do so,” Gordon said. “This is a way for us to be better diversified, more defensive. It will give us a chance to do a better job for Wyoming by getting our citizens a better return.”