Approve County Investment Policy and Authorize the Chair to Sign

Summary

This document outlines the Lake County Investment Policy Statement, establishing guidelines for the prudent management of the County's surplus funds. The policy prioritizes the safety of principal, followed by liquidity and then return on investment. It details authorized investments, including U.S. Treasuries, federal agency obligations, municipal securities, banker's acceptances, commercial paper, and various types of certificates of deposit and repurchase agreements. The policy also specifies prohibited investment vehicles and practices, such as futures, options, and investment in foreign currency-denominated securities. It defines the roles and responsibilities of the Treasurer and the Board of Supervisors, outlines internal controls, and mandates regular reporting and policy review.

Citizen Impact

This policy ensures that county funds are invested responsibly, aiming to protect taxpayer money while generating returns. It provides a framework for fiscal stability and prudent financial management, indirectly benefiting residents through sound governance of public assets.

Confidence

high