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File #: 21-0986    Version: 1 Name: Delegation of Investment Authority and acceptance of the County of Fresno Treasury Investment Pool Investment Policy
Type: Agenda Item Status: Approved
File created: 9/21/2021 In control: Auditor - Controller
On agenda: 11/2/2021 Final action: 11/2/2021
Enactment date: Enactment #:
Title: 1. Delegate investment authority to the Auditor-Controller/Treasurer-Tax Collector for the 2022 calendar year; and 2. Adopt revisions of the "County of Fresno Treasury Investment Pool Investment Policy".
Attachments: 1. Agenda Item, 2. Redline - County of Fresno Treasury Investment Pool Investment Policy, 3. Clean - County of Fresno Treasury Investment Pool Investment Policy - signed
DATE: November 2, 2021

TO: Board of Supervisors

SUBMITTED BY: Oscar J. Garcia, CPA, Auditor-Controller/Treasurer-Tax Collector

SUBJECT: Delegation of Investment Authority and acceptance of the County of Fresno Treasury Investment Pool Investment Policy

RECOMMENDED ACTION(S):
TITLE
1. Delegate investment authority to the Auditor-Controller/Treasurer-Tax Collector for the 2022 calendar year; and

2. Adopt revisions of the "County of Fresno Treasury Investment Pool Investment Policy".
REPORT
Approval of the first recommended action renews the Board's delegation of investment authority to the Auditor-Controller/Treasurer-Tax Collector (ACTTC) under County Ordinance Code section 2.20.080. Your Board is also required to annually review and approve the "County of Fresno Treasury Investment Pool Investment Policy" (Investment Policy). Approval of the second recommended action will effectuate the ACTTC's recommended changes to the Investment Policy, primarily in Section 5.0 and other minor revisions. This item is countywide.

ALTERNATIVE ACTION(S):

If your Board does not renew the delegation of investment authority to the ACTTC, the fiduciary responsibility of investing the funds in the Treasury Investment Pool will remain with your Board.

FISCAL IMPACT:

There is no additional fiscal impact associated with the recommended actions.

DISCUSSION:

Delegation of investment authority to the ACTTC may be renewed annually, subject to review by your Board, under Government Code sections 27000.1 and 53607 and the Ordinance Code of Fresno County section 2.20.080. Therefore, your Board is required to act each year to decide whether to renew the delegation. The first recommended action delegates investment authority to the ACTTC for calendar year 2022.

Government Code section 53646 provides that the ACTTC may annually render to the Board of Supervisors a statement of investment policy, which the Board shall review and approve at a public meeting. This Investment P...

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