Title
Treasurer-Tax Collector Department recommending the Board approve the El Dorado County 2022 Investment Policy with modifications, revisions and additions.
FUNDING: N/A
Body
DISCUSSION / BACKGROUND
In the interest of transparency, good governance and pursuant to Government Code §53601 et seq., the El Dorado County Treasurer-Tax Collector Department maintains an Investment Policy. This Policy provides guidelines and procedures for investing, reinvesting and withdrawals of public funds and ensures the Treasury remains in compliance with said Government Code. Additionally, the Policy provides direction regarding reporting such that the County adheres to the before-mentioned Government Code requirements. The Treasurer-Tax Collector Department no less than annually reviews the County Investment Policy.
Substantive changes to the Policy in 2022 are listed below:
1. Added Attachment I - Authorized Investments: Imbedded in the text of the current Policy, this table has been enhanced with the following:
? Added column “Authorized by CA Gov. Code” for reference
? Changed title of last column to “Minimum Credit Requirement” for clarity
? Retitled some existing authorized investments for clarity
? Added new investment type: “Supranational Obligations.”
2. Added Attachment II - Glossary of Investment Terms: New section of common investment terms and definitions, added for reference.
3. Revised Purchase Restrictions for U.S. Federal Agency or U.S. Government-Sponsored Enterprise (GSE) obligations to remove the limit requiring that no more than 25% of the portfolio be held in any one Federal Agency (9; Attachment I). Per Gov. Code section 53601(f), no purchase restrictions are required, and this restriction is not included in the recommended revised policy. All other restrictions, as listed in the 2021 Investment Poli...
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