Board of Supervisors defers update to county investment policy to Aug. 5

The San Bernardino County Board of Supervisors voted June 10 to continue consideration of proposed updates to the county’s investment policy to its Aug. 5 meeting.

The item, described in the agenda as the auditor-controller/treasurer’s statement of investment policy pursuant to California Government Code section 53646, was the subject of a request from Supervisor Hagman for more time to review a recent packet and seek a presentation. "I feel like I would love to really get into a better understanding," Hagman said, asking that the item be tabled to the next meeting so supervisors could review changes and ask questions one-on-one if needed.

County staff told the board the item has been in the pipeline for several months and that only two small changes were proposed in the "authorized investments" section. A staff speaker said they could provide a presentation if the board preferred to take action today.

After a motion to continue the item to Aug. 5, the board voted to approve the continuance. The clerk announced: "Without this item, number 20 is deferred and continued to 08/05/2025."

The board did not adopt any of the policy changes at this meeting. No subcommittee directives or amendments were recorded; the action was limited to continuing the item to a future agenda.

The investment policy update was presented to the board as tied to California Government Code section 53646, the statute that governs required annual review of a local agency’s investment policy by the treasurer or chief fiscal officer.

Board members and staff indicated they would provide additional materials or one-on-one briefings before the August meeting. No formal vote on the underlying policy changes was taken June 10.