The Board of Supervisors established the Treasury Oversight Committee on January 1, 1996 with the purpose to:
- Review the county’s investment policy,
- Regularly monitor the county investment pool’s performance,
- Report on the pool’s performance to the board of supervisors, and
- Ensure an annual audit is conducted to determine the County Treasurer’s compliance with Government Code §§27130-27137
The committee allows local agencies, including school and special districts, as well as the public, to participate in reviewing the policies that guide the investment of public funds. These funds are invested by the County Treasurer under the authority granted annually by ordinance at the direction of the Board of Supervisors. The mandate for the existence of the committee was suspended in 2004 by the State of California; however, the committee serves an important function and the Treasurer’s Office has elected to continue the program.