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COUNTY OF SAN MATEOInter-Departmental Correspondence |
Tax Collector-Treasurer |
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DATE: |
December 12, 2003 |
BOARD MEETING DATE: |
January 7, 2004 |
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TO: |
Honorable Board of Supervisors |
FROM: |
Lee Buffington, Tax Collector-Treasurer |
SUBJECT: |
Resolution Approving The San Mateo County Investment Policy. |
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Recommendation |
Adopt a resolution approving the San Mateo County Investment Policy. There have been no revisions to the current policy. |
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Background |
The current version of the San Mateo County Pooled Accounts Investment Policy was initially approved in December of 1984. The Treasurer has updated the policy several times with the last revision and approval by the Board of Supervisors on January 28, 2003 |
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Discussion |
The overriding objective of the Investment Policy is the safety of the funds. Liquidity and yield are secondary objectives. The San Mateo County Pooled Accounts Investment Policy is reviewed and approved annually by the Board of Supervisors. The San Mateo County Investment Advisory Committee approved the current Investment Policy as revised January 6, 2003. The Treasurer will communicate the policy to pool participants and receive their written acknowledgement of the Investment Policy. |
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Vision Alignment |
This policy is in alignment with department and County visioning goal #20. |
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Fiscal Impact |
We do not anticipate any fiscal impact; state law limits our fiscal authority. |