MEETING DATE: 8/23/2016
DEPARTMENT: COUNTY ADMINISTRATION OFFICE
DEPT HEAD/DIRECTOR: Ray Espinosa
AGENDA ITEM PREPARER: Louie Valdez
SBC DEPT FILE NUMBER:
SUBJECT:
COUNTY ADMINISTRATION OFFICE - R. ESPINOSA
Adopt Resolution amending Board of Supervisor Resolution 2004-4 specifying membership on the Treasury Oversight Committee, and appointing Joe Paul Gonzalez, San Benito County Clerk, Auditor & Recorder, Elections, Supervisor Robert Rivas, Board Chairman, San Benito County Board of Supervisors and Krystal Lomanto, San Benito County Superintendent of Schools, to the County Treasury Oversight Committee.
SBC FILE NUMBER: 119
RESOLUTION NO: 2016-71
AGENDA SECTION:
CONSENT AGENDA
BACKGROUND/SUMMARY:
The Board of Supervisors directed administrative staff to research and to provide for the re-establishment of the County Treasury Oversight Committee within San Benito County.
California Government Code Sections 27130 through 27137 provide all California Counties, as well as the City and County of San Francisco, with the authority to establish a County Treasury Oversight Committee in consultation with the County Treasurer.
The Oversight Committee provides local agencies including school districts, special districts and community college districts with the opportunity to review policies that guide the investment of public funds including securities.
The California Government Code reads as follows, "...by pooling deposits from local agencies and other participants, county treasuries operate in the public interest when the consolidate banking and investment activities, reduce duplication, achieve economies of scale and carry out coherent and consolidated investment strategies."
County records show that in 2004, the Board of Supervisors established a County Treasury Oversight Committee and made appointments to the same in accordance with state statues in consultation with the County Treasurer's Office.
Presented for your consideration are three initial appointments to the County Treasury Oversight Committee as well as a draft resolution amending the original authorizing resolution adopted by the Board in 2004.
BUDGETED:
SBC BUDGET LINE ITEM NUMBER:
CURRENT FY COST:
STAFF RECOMMENDATION:
Staff recommends that the Board take the following actions:
1. Adopt Resolution to amend Board of Supervisors Resolution 2004-4, specifying membership and appointments to the Treasury Oversight Committee.
2. Appoint the following individuals to the County Treasury Oversight Committee:
a) Joe Paul Gonzalez, San Benito County Clerk, Auditor, & Recorder
b) Supervisor Robert Rivas, Board Chairman, San Benito County Board of Supervisors.
d) Superintendent Krystal Lomanto, San Benito County Superintendent of Schools.
ADDITIONAL PERSONNEL: