For Immediate Release
May 16, 2022
Treasurer Michael Baumgartner Visits Newman Lake Fire & Rescue Live Fire Burn Building, Recipient of Local Direct Investment
Spokane County, WA – The Treasurer of Spokane County, Michael Baumgartner, visited Newman Lake Fire & Rescue (NLFR) on May 9th, 2022. NLFR was the recipient of a 2021 Treasurer’s Office Local Direct Investment (LDI) totaling $300,000 of financing towards construction of new training facilities.
Utilizing district funds and Treasurer’s Office financing, Newman Lake Fire & Rescue recently completed a new live fire burn building and training facility. These new spaces provide EMS and live fire training as well as equipment storage. Area fire districts use these facilities for ongoing fire suppression trainings.
“Being able to support projects like the Newman Lake Fire & Rescue new training facilities is one of the many benefits of our Local Direct Investment program at the Treasurer’s Office” said Michael Baumgartner, Treasurer of Spokane County. “It’s great to see this project completed and the many area first responders now utilizing these new facilities”.
The Treasurer of Spokane County manages the investment of nearly $1.5 billion in local government cash reserves. Up to ten percent of the pooled investment fund may be invested locally through the LDI program. Local Direct Investments are offered at competitive rates to area government entities earning interest while also saving taxpayer dollars on public projects versus securing private financing.
The Treasurer of Spokane County collects, safeguards, and invests public funds on behalf of over eighty regional government entities. As the regional hub of the public finance network, the Spokane County Treasurer’s Office processes $20 billion annually in financial transactions and manages $1.5 billion of pooled public investments.