The purpose of the Treasury Oversight Committee is to review the County's investment policy, regularly monitor the County Investment Pool's performance, and report on the pool's performance to the Board of Supervisors. The Committee is composed of seven statutory and three alternates as follows: One statutory member and one alternate appointed by the Board of Supervisors; One statutory member appointed by he County Superintendent of Schools; One statutory member and one alternate selected by a majority of the presiding officers of the governing bodies of the school districts and the community college district in the County; One statutory member and one alternate member selected by a majority of the presiding officers of the legislative bodies of the special districts in the Country that are required or authorized to deposit funds in the County Treasury; and three members of the public, a majority of whom shall have expertise in, or an academic background in, public finance and who shall be economically diverse and bipartisan in political registration. (May have no fewer than three nor more than eleven members, additional restrictions are on members).
Donald Bouchet, who held the Board of Supervisors Appointee seat on the Treasury Oversight Committee since 1996, has notified our office of his decision to step down effectively immediately. The term of his seat ends April 30, 2020. A new nomination to finish out Mr. Bouchet's term is required from the Board's Internal Operations Committee for review and recommendation to the Board of Supervisors.
Parm Sandhu, who held the Board of Supervisors Alternate seat on the Treasury Oversight Committee (2016-2020), has notified our office of his decision to step down effective immediately due to moving outside of the County. The term of his seat ends on April 30, 2020. A new nomination to finish out Mr. Sandhu's term is required from the Board's Internal Operations Committee for review and recommendation to the Board of Supervisors.
Failure to declare vacancies before making a new appointment will cause the County to be out of compliance with State law.