Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Policy topic
No spam. Unsubscribe anytime.
Committee reaffirms Tompkins County cash‑management and investment policy
Summary
The committee reviewed and unanimously approved the annual renewal of the county’s Cash Management Investment Policy without substantive changes to depositories or eligible securities lists.
Tompkins County’s Budget, Capital and Personnel Committee reviewed and unanimously approved the county’s Cash Management Investment Policy at its May 8 meeting.
Finance staff noted the policy is reviewed annually and that the county last made significant revisions following the finance director’s arrival in September 2023. There are no substantive changes this year to the list of depositories or eligible securities; those lists appear on packet pages 47–48. The policy identifies current depositories and allowable investments, including New York Class and certificates of deposit.
The nut graf: the annual policy review is a routine requirement of county financial governance and was presented to provide transparency on where county cash is held and the allowable securities the county may use to invest short‑term funds.
Committee members asked about depository diversity and the county’s practice of bidding CDs and negotiating money‑market rates; finance staff said they continue to solicit bids and maintain diversified holdings across local banks, JP Morgan, New York Class and others.
Ending: The committee approved the policy and will continue periodic review as part of standard financial oversight.
