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 as outlined in the Government Code as listed in Chapter 5, Article 6, Sections 27133 and 27134. The TOC is composed of seven statutory members and three alternates as follows:
Category 1: Appointed officials (two statutory members and one alternate). Category 1 appointed members are the County Superintendent of Schools or his or her designee and a representative and an alternate of the Board or their designee.
Category 2: Elected members (two statutory members and two alternates). Category 2 includes one representative and one alternate elected by a majority of the school and community college districts; and one representative and one alternate elected by a majority of the special districts.
Category 3: Public members (three statutory members). Category 3 includes representatives from the public nominated by the County Treasurer and confirmed by the Board.
An Alternate member shall attend in place of a statutory member as to whom the Alternate is delegated only when notified of the statutory member’s anticipated absence at a meeting. An Alternate member is encouraged to attend any Committee meeting but is not entitled to vote unless the statutory member to whom the Alternate is delegated is absent from that meeting. An Alternate member serving at a meeting as to which a matter requiring the Committee action is continued shall be entitled to vote on the matter in lieu of the statutory member until that matter is resolved by the Committee.
The most updated Bylaws were adopted by the Treasury Oversight Committee on May 15, 2018. Terms for membership are for four years.
Ms. Christine Rea, who would serve as an Alternate on the TOC for County School Districts and Community College District, has served as the Manager, District Business Services since 2008. She oversees the review of 16 School District financial reports, follow trends for each District regarding attendance, deficit spending, cash flow, review salary settlements, balance financial system to the County Auditor's GL, and assists the District with financial reporting questions. Ms. Rea also provides in depth financial system support and training.
Mr. Robert (Bob) Leete, the Director (Elected) of the Town of Discovery Bay Community Services District since 2014, received an unanimous vote on July 16, 2018 by the Contra Costa Special Districts Association to serve as an Alternate on the TOC.
Lack of representations from school and community college districts, and special districts. Lack of quorum for the quarterly TOC Meetings.