Q&A: Bernalillo County Treasurer Candidate Patrick Padilla

  • NAME: Patrick J. Padilla
  • AGE: 69
  • EDUCATION: Attended University of Albuquerque, Albuquerque TVI, University of New Mexico and the University of Tennessee’s Professional Treasurers Program
  • OCCUPATION: Accountant, CEO, Padilla & Company since 1973
  • FAMILY: Wife, Cheryl Tucker de-Padilla, five daughters and two sons
  • POLITICAL/GOVERNMENT EXPERIENCE: Bernalillo County Treasurer, 1987-1990 and 2005-2012; Bernalillo County Commission, 1979-1982; State Director National Association of County Collectors, Treasurers, and Finance Officers; twice elected President of National Association of Hispanic County Elected Officials; twice elected President of New Mexico Association of Counties
  • CAMPAIGN WEBSITE: www.patrickpadilla4treasurer.com

1. What professional investment management experience do you have?

While serving as Bernalillo County Treasurer my staff and I attained the highest rate of return in history for Bernalillo County investments. All investments were made while maintaining the prudent person rule; Safety, Liquidity, and Yield in that order. Certified Public Funds Manager 2011.

2. Please describe your preferred investment strategy for the county?

My Strategy is to apply the Prudent Person Rule; Safety, Liquidity, and Yield in that order. I will diligently monitor investments ensuring the best yield for Bernalillo County. I will be compliant with all rules and regulations while assuring transparency and cooperation with the Bernalillo County Board of Finance.

3. What, if anything, should the county treasurer’s office do differently if COVID-19 sends the country into a recession?

New Mexico State and County Treasurers can help New Mexicans survive a Covid-19 recession. I will rally treasurers to urge the Governor with bipartisan legislation, to provide relief to the Citizens by deferring second half property taxes, business and personal, for 90 days without incurring penalty nor interest.

4. What would be your top priorities as treasurer?

Work to implement a longevity tax credit. Most neighboring states have a homestead act that rewards long-term homeowners with a tax reduction. My plan is a 5% credit/year, starting year 16, for county residents who lived in the same home for 15 years, with a maximum credit of 25%.

5. Why are you the best candidate for this office?

During my terms as Bernalillo County Treasurer my staff and I with legislative help have made property taxes payments less painful by implementing new methods for payments, monthly, drop boxes, E-Check, and Credit Card. I will resume making improvements in the Treasurer’s office processes including more user-friendly customer interfaces.

6. Have you or your business, if you are a business owner, ever been the subject of any state or federal tax liens?

Yes, liens have been satisfied.

7. Have you ever been involved in a personal or business bankruptcy proceeding?

Yes, bankruptcy has been resolved. (1993)

8. Have you ever been arrested for, charged with, or convicted of drunken driving, any misdemeanor or any felony in New Mexico or any other state?

I have never been convicted of drunken driving, a misdemeanor, a felony, or any crime. During my last administration as Bernalillo County Treasurer, an independent accountant unjustly accused me of improprieties in the Treasurer’s office. I was acquitted on all charges. Subsequently, I successfully sued the independent accountant.