Agenda

Return

C. 21

To:	Board of Supervisors
From:	Russell Watts, Treasurer-Tax Collector
Date:	May 9, 2017

Contra

Costa

County

Subject:

NOMINATION TO THE TREASURY OVERSIGHT COMMITTEE

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 05/09/2017

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:

Ronda Boler, (925) 957-2806

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: May 9, 2017
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPOINT Stanley Caldwell to the Special District seat on the Treasury Oversight Committee to complete the unexpired term ending on April 30, 2018.

FISCAL IMPACT:

None.

BACKGROUND:

The purpose of the Treasury Oversight Committee (TOC) 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.

BACKGROUND: (CONT'D)

The TOC is composed of 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; three members of the public nominated by the County Treasurer, 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.

At the April 18, 2016, meeting of the Contra Costa Special Districts Association (CCSDA), Alfred Granzella, who held the CCSDA’s seat on the TOC for 20 years, announced his retirement and resignation as TOC member and chair effective May 4, 2016. At the same CCSDA meeting Mike Cain was nominated and selected by unanimous vote to serve as CCSDA’s representative for the remainder of Granzella’s term ending April 30, 2018. However, Mr. Caine was not re-elected to the West County Wastewater District in the November 8, 2016 local elections and, therefore, had to resign from the TOC after serving for six months. Elections to fill the vacancy would not be held until the next scheduled CCSDA meeting in January 2017.

At the January 23, 2017, CCSDA meeting, elections were held to fill its seat on the TOC. However, no nominations were put forth and the elections were rescheduled for the next CCSDA meeting in April.

At the April 17, 2017, CCSDA meeting, elections were held to fill its seat on the TOC. Stanley Caldwell was nominated and selected by unanimous vote to serve as its representative for the remainder of the term ending April 30, 2018.