TO: BOARD OF SUPERVISORS
FROM: Auditor-Controller Treasurer-Tax Collector
MEETING DATE: February 6, 2024
DEPARTMENT CONTACT:
Sara Pierce
PHONE:
707-234-6860
DEPARTMENT CONTACT:
Cheyanne Gordon
PHONE:
707-234-6875
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Acceptance of December 31, 2023, Mendocino County Pooled Investments Report; and Approval of the Revised 2024 Investment Policy
End
RECOMMENDED ACTION/MOTION:
recommendation
Accept the December 31, 2023, Mendocino County Pooled Investments Report; and approve the revised 2024 Investment Policy.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
The Pooled Investments Report is submitted quarterly for informational purposes and acceptance by the Board of Supervisors.
The Investment Policy covering investment of all funds of Mendocino County, County Schools, and certain County Special Districts is presented annually for approval by the Board of Supervisors and was last adopted on January 24, 2023.
SUMMARY OF REQUEST:
The quarterly report of investments held within the Mendocino County Treasury Pool as of December 31, 2023, is hereby being submitted for informational purposes to and for the acceptance by the Board of Supervisors. All investments are authorized pursuant to California law and the Mendocino County Investment Policy. Due to the nature of a public funds portfolio, it is mandatory that moneys be available to meet the monetary requirements inherent to operating a public entity. The attached Investment Report demonstrates that sufficient liquidity is available to meet anticipated expenditures during the next six months.
The primary and overriding objective for the investment pool is to protect the safety of the principal. The second objective is to ensure a sufficient portion of all funds are invested in securities providing a high degree of liquidity and availability. The third objective is to obtain a yield commensurate to current co...
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