Treasurer’s annual investment policy renewed; board hears calls for oversight

Nevada County supervisors approved June 24 the annual Treasurer‑Tax Collector investment policy and renewed delegation of investment authority to the Treasurer for 2025‑26 after the Treasurer, Michelle Bodley, reported on portfolio performance and oversight practices.

Bodley told the board that the county’s investment policy had no material changes and that the Treasury maintains published monthly and quarterly reports available online. She said the pooled portfolio totaled about $325 million with a yield of 3.29% and interest earnings over $10.4 million to date — an annual record for the county. Bodley described the auditing framework: internal quarterly cash counts by the Auditor‑Controller’s office and annual external audits, with the most recent audit showing no findings.

Public commenters urged increased public oversight and proposed re‑establishing a Treasury Oversight Committee dissolved in 2008. Commenters argued that the county should offer annual public presentations and fuller transparency given the size of the portfolio. Bodley said the Treasury regularly publishes monthly reports, provides copies to the Board, the Auditor and CFO, and meets auditing and reporting requirements.

Supervisors approved the resolution renewing the policy and delegation of authority. Some board members asked the Treasurer to ensure continued outreach and to provide the monthly reports to supervisors and the public.

Why it matters: The Treasurer’s investment policy frames how public funds are invested and reported. The portfolio size and returns affect county cash flow and fiscally prudent management; oversight and transparency questions about investment governance drew public interest.