DATE: October 17, 2017
TO: Board of Supervisors
SUBMITTED BY: Oscar J. Garcia, CPA, Auditor-Controller/Treasurer-Tax Collector
SUBJECT: Auditor-Controller/Treasurer-Tax Collector Salary Resolution Amendment Request for Investment Officer
RECOMMENDED ACTION(S):
TITLE
Approve Salary Resolution Amendment regarding the Investment Officer classification, effective October 23, 2017, as reflected on Appendix C.
REPORT
The recommended action would align the Investment Officer from Senior Management Compensation Plan (SMCP) salary band "F" for Coordinators/Supervisors to band "D" for Division Managers to more accurately reflect the level of management entailed in the position and adjust the current salary of the Investment Officer.
ALTERNATIVE ACTION(S):
If the recommended action is not approved, the Salary Resolution would remain as currently written.
FISCAL IMPACT:
There is no Net County Cost with the recommended action. The new annual salary will be $110,000 with an associated additional annual cost of $24,200 which will be absorbed within the FY 2017-18 Auditor-Controller/Treasurer-Tax Collector budget.
DISCUSSION:
On an annual basis your Board delegates the fiduciary responsibility for the County of Fresno Treasury Investment Pool (Investment Pool) to the Treasurer portion of the Auditor-Controller/Treasurer-Tax Collector department. The Investment Pool is comprised of participants that are required to keep their money with the County Treasurer. These participants include the County, school districts and some special districts within the County, as well as voluntary participation of a few special districts that are eligible to keep their funds in the Investment Pool.
The Investment Officer is responsible for the overall management of the County's $3 billion Investment Pool, determining the liquidity needs of participants and developing and implementing investment strategies. The Investment Officer is required to monitor Investment Pool compliance, ec...
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