Title
Treasurer-Tax Collector's Office recommending the Board approve the El Dorado County 2025 Investment Policy with minor revisions.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
To uphold transparency and good governance, in accordance with Government Code §53601 et seq., the El Dorado County Treasurer-Tax Collector Office maintains a comprehensive Investment Policy. This Policy outlines the procedures and guidelines for the investing, reinvesting, and withdrawing of public funds, ensuring compliance with the applicable Government Codes. Furthermore, it establishes reporting protocols to guarantee adherence to the aforementioned legal requirements. The Investment Policy was approved by the Board on August 29, 2023 and certified by the California Municipal Treasurers Association (CMTA) in December 2023. The Treasurer-Tax Collector Office reviews the County Investment Policy annually to maintain its efficacy and compliance. Government Code §53646 requires the Board to review and approve any changes.
The recommended minor changes to the Investment Policy are:
1) Table of Contents - change "Investment Terms" to "Glossary."
2) Section 5 - change "Treasury Investment Analyst" to "Accounting Division Manager" to reflect current personnel allocations.
3) Attachment II - change "Investment Terms" to "Glossary"
4) Attachment II - remove terms that are not in the Policy, as per the Certification by the CMTA in December 2023.
ALTERNATIVES
The Board could decide not to approve these minor revisions. If so, the current Investment Policy would be outdated and include extraneous information.
PRIOR BOARD ACTION
August 29, 2023, File ID# 23-1482, Investment Policy Revisions
OTHER DEPARTMENT / AGENCY INVOLVEMENT
N/A
CAO RECOMMENDATION / COMMENTS
Approve as recommended.
FINANCIAL IMPACT
N/A
CLERK OF THE BOARD FOLLOW UP ACTIONS
N/A
STRATEGIC PLAN COMPONENT
N/A
CONTACT
K. E. Coleman, MBA, Treasurer-Tax Collector