⚠️ Aviso de traducción:
Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Note: Missing finding numbers detected:
F6
Findings and Recommendations
2 findings
The County Board of Supervisors is exercising proper responsibility in requiring periodic performance reports on the Investment Pool from the County Treasurer. The reports on the investments meet the County Investment Policy goals of security and liquidity. The reports do not provide information regarding whether a reasonable rate of return on the investments was obtained. Treasurer-Tax Collector: Partially Disagree. Information regarding rate of return is not reported on the quarterly reports, but is reported on the annual reports.
No recommendations for this finding
The investment of Investment Pool funds locally is not possible under current legislation. Treasurer-Tax Collector: Disagree. Investments in local banks and credit unions are permissible under current legislation; however, due to the size of the portfolio, it may not always be practical. The mandated objectives of the investment program are safety of principal, liquidity, and attaining a rate of return commensurate with the market, in that order; unfortunately, it is difficult for privately held local entities to compete with these mandates in place.
No recommendations for this finding
