DATE:
??June 9, 2026
20
TO:
Board of Supervisors
SUBJECT
Title
RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO AUTHORIZING THE COUNTY OF SAN DIEGO TO JOIN THE CALIFORNIA FIXED INCOME TRUST JOINT POWERS AUTHORITY AS A FOUNDING MEMBER (DISTRICTS: ALL)
Body
OVERVIEW
The San Diego County Treasurer-Tax Collector's Office requests that the Board of Supervisors adopt a resolution authorizing the County of San Diego (County) to join the California Fixed Income Trust (CalFIT) Joint Powers Authority (JPA) as a Founding Member. On July 22, 2025, the CalFIT JPA was established to create a new local government investment pool (LGIP) to provide enhanced liquidity, diversification, and risk managed investment options for California public agencies. The San Diego County Investment Pool is currently invested in the CalFIT pool.
As part of this action, the Treasurer-Tax Collector will be authorized to execute the CalFIT Joint Exercise of Powers Agreement on behalf of the County and to participate in the oversight of the JPA, including presiding as a Board of Trustees representative.
CalFIT offers an additional high quality, low volatility investment option that enhances liquidity management, particularly during peak secured property tax collection periods. As a Founding Member with a permanent board seat, the County will have direct influence over fund governance, investment policy, and management.
RECOMMENDATION(S)
TREASURER-TAX COLLECTOR
1. Adopt the Resolution titled: RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO AUTHORIZING THE COUNTY OF SAN DIEGO TO JOIN THE CALIFORNIA FIXED INCOME TRUST JOINT POWERS AUTHORITY AS A FOUNDING MEMBER
2. Authorize the Treasurer-Tax Collector to execute the CalFIT Joint Exercise of Powers Agreement.
3. Authorize the Treasurer-Tax Collector, or designee, to participate on the CalFIT Board of Trustees.
??EQUITY IMPACT STATEMENT
The Treasurer-Tax Collector follows State of California legislate...
Click here for full text