Agenda

Return

C. 7

To:	Board of Supervisors
From:	David Twa, County Administrator
Date:	April 14, 2020

Contra

Costa

County

Subject:

RECOMMENDATIONS FOR APPOINTMENT TO THE TREASURY OVERSIGHT COMMITTEE

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 04/14/2020

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

John Gioia, District I Supervisor
Candace Andersen, District II Supervisor
Diane Burgis, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

Contact:	Julie DiMaggio Enea (925) 335-1077
cc:	Treasurer-Tax Collector IOC Staff

I hereby certify that this is a true and correct copy of an action taken and entered on the minutes of the Board of Supervisors on the date shown.
ATTESTED: April 14, 2020
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

REAPPOINT John Phillips to the Public Member #3 seat on the Treasury Oversight Committee to a new four-year term ending on April 20, 2024, as recommended by the Treasurer-Tax Collector.

FISCAL IMPACT:

No fiscal impact.

BACKGROUND:

The Treasury Oversight Committee is responsible for reviewing the County's investment policy, monitoring the performance of County investments, and reporting to the Board of Supervisors. The Committee is composed of seven statutory members and three alternates: County Superintendent of Schools or designee, a representative and an alternate of the Board of Supervisors or their designees, one representative and one alternate elected by a majority of the school and community college districts; one representative and one alternate elected by a majority of the special districts, three public members nominated by the County Treasurer and confirmed by the Board.

BACKGROUND: (CONT'D)

The term of office of the Public Member #3 seat will expire on April 30, 2020. The Treasurer-Tax Collector conducted a four-week recruitment and received one application, from incumbent John Phillips. The Internal Operations Committee (IOC) normally conducts interviews of applicants for the Public Member seats. However, in accordance with the COVID-19 shelter-in-place order, the April
IOC meeting was canceled. In order to ensure full representation on the Treasury Oversight Committee, we recommend the reappointment of John Phillips, who was the sole applicant.

John Phillips was first appointed to the Treasury Oversight Committee by the Board of Supervisors on May 21, 2019. He is a graduate of UC Berkeley with a bachelor's degree in Finance and master's degree in Accounting and Tax. He has a professional background as a Certified Public Accountant and is a retired partner of PricewaterhouseCoopers. Mr. Phillips is currently a Trustee on Contra Costa County Employees' Retirement Association board of trustees.