RECOMMENDATION(S): (CONT'D)
County Superintendent of Schools seat: Bill Clark, address on-file. Term: May 1, 2016 - April 30, 2020 (Reappointment)
FISCAL IMPACT:
No fiscal impact.
BACKGROUND:
The Board of Supervisors established the Treasury Oversight Committee on January 1, 1996 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. This legally mandated body may have no fewer than three nor more than 11 members. The current configuration comprises seven members: one representative appointed by the Board of Supervisors; the County Superintendent of Schools, or designee; one representative 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 representative selected by a majority of the presiding officers of the legislative bodies of the special districts in the County 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. Terms for membership are for four years.
CONSEQUENCE OF NEGATIVE ACTION:
No continuous representation by County Office of Education or the school and community college districts on the Treasury Oversight Committee as required by California Government Code section 27132 and the November 6, 1995, County Board Order (I.O.-4) regarding Composition of a County Treasury Oversight Committee.
CHILDREN'S IMPACT STATEMENT:
N/A