Trumbull County approves investment adviser contract and adopts revised investment policy

Trumbull County's investment advisory committee voted to approve an agreement with 10 Meter Investment Management of Dublin, Ohio, to serve as the county's investment adviser and separately adopted a revised Trumbull County investment policy, the committee said during a meeting (date not specified).

Committee leaders said the agreement and the policy change are being made pursuant to Ohio Revised Code 135.341. A copy of the investment agreement and the revised policy were circulated to committee members during the meeting; members then signed the documents.

The agreement names 10 Meter Investment Management, listed in the meeting record at 6125 Memorial Drive, Dublin, Ohio 43017, as the county's investment provider. The committee discussion referenced an advisory fee described in the agreement verbally in the meeting as “point 03%.” The record of the meeting is not fully explicit on the numeric form of that fee; the agreement circulated at the meeting is the controlling document for the exact percentage and fee schedule.

Members asked whether the contract required competitive bidding. A member noted that investment managers are typically treated as consultants and thus may be exempt from formal competitive bidding; staff indicated the procurement falls beneath the county's applicable bidding threshold as discussed in the meeting. The precise county threshold figure cited in the discussion was indistinct on the public record and is therefore not stated here.

Committee members also reviewed a replacement investment policy dated 10/15/2025. Officials said the new policy is more detailed than the prior policy and adds clearer language on liquidity, yield objectives, authorized investments and compliance procedures; the prior policy contained only general guidance and lacked specific credit-risk and compliance provisions. Committee members described the revised policy as replacing an older, out-of-date document and said signed copies will be distributed after the meeting.

Votes at a glance: - Approval of agreement with 10 Meter Investment Management to serve as Trumbull County investment adviser pursuant to RC 135.341 — outcome: approved (meeting record: motion made and seconded; signatures collected; detailed roll-call tallies not specified in the public transcript). - Adoption of revised Trumbull County investment policy dated 10/15/2025, required by RC 135.341(c) — outcome: approved (meeting record indicates members voted in favor and signed the policy; detailed roll-call tallies not specified in the public transcript).

The committee directed that signed copies of the agreement and the new policy be completed and distributed; the meeting record indicates staff will handle circulation and any further administrative filings required by statute.