REPORT/RECOMMENDATION TO THE BOARD OF SUPERVISORS
OF SAN BERNARDINO COUNTY
AND RECORD OF ACTION
June 25, 2024
FROM
ENSEN MASON, Auditor-Controller/Treasurer/Tax Collector
SUBJECT
Title
Delegation of Treasurer's Investment Authority
End
RECOMMENDATION(S)
Recommendation
Renew the Treasurer’s authority to invest pursuant to Government Code sections 27000.1 and 53607.
(Presenter: John Johnson, Assistant Auditor-Controller/Treasurer/Tax Collector, 382-7005)
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
California Government Code sections 27000.1 and 53607 provide for an annual renewal by the Board of Supervisors (Board) of its delegation of investment authority to the County Treasurer, who is responsible for the management and investment of the County Treasury Pool. Statutory authority for the investment and safekeeping functions are found in California Government Code sections 53600 et seq. and 53630 et seq.
On June 27, 2023 (Item No. 35), the Board renewed the Treasurer’s investment authority. The recommended action will effectuate the annual renewal of authority.
PROCUREMENT
Not applicable.
REVIEW BY OTHERS
This item has been reviewed by County Counsel (Kristina Robb, Deputy County Counsel, 387-5455) on May 17, 2024; Finance (Penelope Chang, Administrative Analyst, 387-4886) on May 28, 2024; and County Finance and Administration (Paloma Hernandez-Barker, Deputy Executive Officer, 387-5423) on June 5, 2024.