Agenda

Return

C. 31

To:	Board of Supervisors
From:	Russell Watts, Treasurer-Tax Collector
Date:	June 21, 2016

Contra

Costa

County

Subject:

Appointment to the Treasury Oversight Committee

APPROVE	OTHER
RECOMMENDATION OF CNTY ADMINISTRATOR	RECOMMENDATION OF BOARD COMMITTEE

Action of Board On: 06/21/2016

APPROVED AS RECOMMENDED

OTHER

Clerks Notes:

VOTE OF SUPERVISORS

AYE:

Candace Andersen, District II Supervisor
Mary N. Piepho, District III Supervisor
Karen Mitchoff, District IV Supervisor
Federal D. Glover, District V Supervisor

ABSENT:

John Gioia, District I Supervisor

Contact:

Russell Watts, 925-957-2801

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: June 21, 2016
David Twa,

BY:	, Deputy

RECOMMENDATION(S):

APPOINT Michael Cain 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.

The sitting representative for the Contra Costa Special Districts, Alfred Granzella, announced his resignation from the TOC at the Association’s February meeting this year. Mr. Granzella would remain as member and chair of the TOC until the end of its May 17th quarterly meeting.

Elections were held at the same February meeting to replace Mr. Granzella on the TOC. Mike Cain was nominated and selected by unanimous vote to serve as the Special Districts’ representative for the remainder of the term ending April 30, 2018.