TO: Board of Supervisors
FROM: Treasurer-Tax Collector
MEETING DATE: November 16, 2021
DEPARTMENT CONTACT:
Shari L. Schapmire
PHONE:
234-6884
ITEM TYPE: Consent Agenda
TIME ALLOCATED FOR ITEM: N/A
AGENDA TITLE:
title
Acceptance of the September 30, 2021 Report of Mendocino County Pooled Investments
End
RECOMMENDED ACTION/MOTION:
recommendation
Accept the September 30, 2021 Report of Mendocino County Pooled Investments.
End
PREVIOUS BOARD/BOARD COMMITTEE ACTIONS:
The Pooled Investment Report is submitted quarterly for informational purposes to and acceptance by the Board of Supervisors; all previous reports to date have been accepted.
SUMMARY OF REQUEST:
Quarterly report of investments held within the Mendocino County Treasury Pool as of September 30, 2021, is hereby being submitted for informational purposes to and 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 conditions; yield shall not be the driving force in determining which investments are to be selected for purchase. In the event all general objectives mandated by State law are met and created equal, investments in corporate securities and depository institutions will be evaluated for social and environmental concerns.
ALTERNATIVE ACTION/MOTION:
Do not a...
Click here for full text