Title
Treasurer-Tax Collector's Office recommending the Board adopt and authorize the Chair to sign Resolution 027-2026 pertaining to the following:
1) Authorizing the deposit and withdrawal of El Dorado County monies in the Local Agency Investment Fund (LAIF); and
2) Updating the names and titles of the El Dorado County officers authorized to order the deposit or withdrawal of El Dorado County monies in LAIF.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
The LAIF is a state-sponsored program for local governments to be able to participate in a major portfolio under the oversight of the State Treasurer's Office professional investment staff. The LAIF has approximately 2,332 participating local agencies and had a balance of $24.1 billion at the end of December, 2025.
The County of El Dorado Treasury is currently authorized by the Board of Supervisors to deposit and withdraw monies in LAIF. However, with the appointment of a new Treasurer-Tax Collector and updates to the Assistant Treasurer Tax Collector and Accounting Division Manager, the Office is wishing to adopt a new resolution. The objective of the new resolution is to update the names and position of the officers authorized to deposit and withdraw monies from LAIF.
ALTERNATIVES
N/A
PRIOR BOARD ACTION
07/16/2019 Legistar file 19-0899
OTHER DEPARTMENT / AGENCY INVOLVEMENT
County Counsel
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
N/A
CLERK OF THE BOARD FOLLOW UP ACTIONS
Obtain the Deputy Clerk and Chair's signature on the resolution, file a copy with the State Treasurer's Office and forward a copy to the Treasurer-Tax Collector's Office.
STRATEGIC PLAN COMPONENT
N/A
CONTACT
Sean M. Coppola, Treasurer-Tax Collector