To: Board of Supervisors
From: Dan Mierzwa, Treasurer-Tax Collector
Report Title: ACCEPT the County Treasurer’s 2024 Advisory Body Report for the Treasury Oversight Committee.
☒Recommendation of the County Administrator ☐ Recommendation of Board Committee
RECOMMENDATIONS:
ACCEPT the 2024 Advisory Body Report for the Treasury Oversight Committee
FISCAL IMPACT:
None.
BACKGROUND:
The Treasury Oversight Committee (the “Committee”) was established by the Contra Costa County Board of Supervisors on November 6, 1995 pursuant to Chapter 5, Article 6 of the California Government Code. The mandate for the Committee was suspended in 2004 by the State of California. However, the Treasurer-Tax Collector has elected to keep the Committee active to promote the transparency and the best business practices. The main function of the Committee is to carry out the following: 1) Review and monitor the County Treasurer’s annual investment policy; and 2) Ensure and annual audit is conducted to determine the County Treasurer’s compliance with the investment policy. The Committee also allows local agencies, including school districts and special districts, as well as the public, to participate in reviewing the investment policy and investment reports to ensure compliance.
On January 7, 2020, the Board of Supervisors adopted Resolution No. 2020/1, requiring each advisory board, commission, and committee to report annually to the Board its activities, accomplishments, membership attendance, required trainings and certifications, and proposed work plan or objectives for the subsequent year.
The attached TOC Advisory Body Report 2024 fulfills this requirement.
CONSEQUENCE OF NEGATIVE ACTION:
The Treasury Oversight Committee would be out of compliance with Resolution No. 2020/1.