DATE:
??December 9, 2025?
12
TO:
Board of Supervisors
SUBJECT
Title
DELEGATION OF INVESTMENT AUTHORITY TO THE TREASURER-TAX COLLECTOR AND APPROVAL OF THE INVESTMENT POLICY (DISTRICTS: ALL)
Body
OVERVIEW
Annually, the Board of Supervisors (Board) is requested to take several actions regarding the San Diego County Investment Pool. These actions include the annual delegation of investment authority to the Treasurer-Tax Collector and review and approval of the Investment Policy.
Today's actions will delegate investment authority to the Treasurer-Tax Collector for the calendar year 2026 and approve the amended Investment Policy to align with recent changes in the California Government Code, which increase the maximum maturity for commercial paper investments. Additionally, the language describing the frequency of interest charged on negative average daily balances in a participant's fund has been revised from quarterly to monthly to accurately reflect County practice. There is no financial impact as a result of these changes.
RECOMMENDATION(S)
TREASURER-TAX COLLECTOR
1. ??Adopt the Resolution titled: A RESOLUTION OF THE BOARD OF SUPERVISORS OF THE COUNTY OF SAN DIEGO RELATING TO DELEGATING INVESTMENT AUTHORITY TO THE COUNTY TREASURER-TAX COLLECTOR
2. Review and approve the San Diego County Treasurer's Pooled Money Fund Investment Policy, as amended.
EQUITY IMPACT STATEMENT
The County Treasurer follows State of California legislated parameters and exercises fiduciary authority for the investment of the funds of the county and the funds of other depositors in the county treasury. The County Treasurer must manage public monies in a way that is consistent with its objectives of safety and liquidity, prudent investment practices and not solely to maximize returns. The investment function benefits the public because the investment earnings provide incremental funding for programs and services.
SUSTAINABILITY IMPACT STATEMENT
The Treasurer-Tax...
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