REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
June 18, 2025
FROM
ENSEN MASON, Auditor-Controller/Treasurer/Tax Collector
SUBJECT
Title
Treasurer's Statement of Investment Policy
End
RECOMMENDATION(S)
Recommendation
Approve the Treasurer's Statement of Investment Policy pursuant to California Government Code section 53646(a)(1).
(Presenter: Ensen Mason, Auditor-Controller/Treasurer/Tax Collector, 382-7000)
Body
COUNTY AND CHIEF EXECUTIVE OFFICER GOALS & OBJECTIVES
Operate in a Fiscally-Responsible and Business-Like Manner.
FINANCIAL IMPACT
Approval of this item will not impact Discretionary General Funding (Net County Cost) as it is non-financial in nature.
BACKGROUND INFORMATION
Pursuant to California Government Code section 53646(a)(1), the County Treasurer may annually render to the Board of Supervisors (Board), and any oversight committee, a statement of investment policy, which the Board shall review and approve at a public meeting. Any change in the policy shall also be reviewed and approved by the Board at a public meeting. The purpose of the investment policy is to establish cash management and investment guidelines for the Treasurer, who is responsible for the management and investment of the County Treasury Pool.
On July 9, 2024 (Item No. 10), the Board approved the Treasurer's Statement of Investment Policy. On March 18, 2025, the Treasury Oversight Committee (TOC) reviewed revisions to the County Investment Policy as recommended by the Treasurer and noted no exceptions to the Treasurer's recommendations outlined below.
Section 31.0 Authorized Investments (Schedule I)
1. Increase U.S. treasury maturity to 7.5 years from 5.5 years.
2. Revise maturity of Commercial Paper from a defined limit in maturity to reference California Government Code to account for any amendments to code.
Prior to the review by the TOC, the requested policy revisions were reviewed by the Treasure...
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