BACKGROUND:
The Board of Supervisors established the Treasury Oversight Committee on November 14, 1995, pursuant to Chapter 5, Article 6 of the California Government Code. The purpose of the Treasury Oversight Committee is to review and monitor the County Treasurer's annual investment policy, and to ensure an annual audit is conducted to determine the County's compliance with Government Code §§ 27130-27137.
The Committee will be composed of seven statutory members and three alternates. The Committee members are in three different categories 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.
Christine Rea, the Alternate representing County School Districts and Community College District, recently retired from the County School Districts and Community College District.
Mr. Pena, Director I, External Business Services, has been elected to serve as the Alternate representative for the County School Districts and Community College District. Currently he has AB 1200 oversight of all local education agencies in Contra Costa County. In his prior position, Mr. Pena served as the Director of Fiscal Services at Acalanes Union High School District, and he has over 30 years of experience in accounting in both private and public sectors. Mr. Pena served as a Board Alternate for the Contra Costa County Schools Insurance Group from 2015 to 2020 and he served as a Board Alternate for East Bay Schools Insurance Group from 2015 to 2020.
Upon approval by the Board of Supervisors, a vacancy will be declared and Mr. Pena will be appointed to fill this vacancy to serve as the Alternate representing County School Districts and Community College District on the Treasury Oversight Committee for the term September 8, 2020 through April 30, 2024.
CONSEQUENCE OF NEGATIVE ACTION:
No Alternate to represent County School Districts and Community College District in the County on the Treasury Oversight Committee as required by California Government Code section 27132 and the November 14, 1995, County Board Order (I.O.-4) regarding composition of a County Treasury Oversight Committee.