The Del Norte County Board of Supervisors held a meeting on January 23, 2024, where the Treasurer presented the quarterly financial report for December. The report highlighted a portfolio closing balance of $144,115,943, with a significant portion allocated to government agency investments, which comprised 44% of the total. Additionally, 12% of the portfolio was invested in certificates of deposit (CDs), while the local agency investment fund (CAMP) accounted for 36%.

The Treasurer noted that the mitigation fund remains stable at approximately $3 million, although there are concerns regarding some CalTrust funds that are not performing well. The report indicated that the overall structure of the portfolio has not changed significantly compared to previous quarters, with school districts representing 38% and various county funds, including road and health department funds, making up 53%.

A key point of discussion was the potential engagement of a portfolio asset manager to enhance investment returns. The Treasurer expressed interest in exploring this option, citing the advantages of larger asset managers who can leverage their buying power for better rates. However, the Treasurer emphasized the importance of conducting thorough due diligence before making any decisions, as this would be a new approach for the county.

The Treasurer also reviewed the county's investment policy, which aligns with statewide standards, and mentioned that any proposed amendments would be brought to the Board for consideration. Notably, the county earned $1.1 million in investment interest during the quarter, a figure that exceeded expectations and reflects positively on the management of the funds.

The meeting concluded with the Treasurer indicating that further discussions regarding asset management and potential policy amendments may appear on future agendas, as the county navigates this new financial territory.