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Brown County appoints David as investment officer and updates investment policy
Summary
Following the announced retirement of the county's investment officer, the court appointed David to the post (effective upon the incumbent's retirement) and reviewed edits to the county's investment policy, including an option to open an indigent defense certificate of deposit and removal of an option to invest in tech schools.
Brown County's Commissioners Court addressed a vacancy in its investment office and a set of modest edits to the county's investment policy during its Dec. 15 meeting.
The vacancy arises after the announced retirement of Ms. Carcoon at the end of the month. Citing the Texas Public Funds Investment Act, a court member noted that the commissioners must appoint someone to fill the position. A county employee who identified certifications and CIO credentials offered to serve and the court moved to appoint David as the county investment officer, with a proposed start date after the incumbent retires (the presenter suggested Jan. 1 as the effective date).
The court also reviewed the proposed 2026 investment policy, which the presenter said includes several minor changes: an explicit listing of the county's certificates of deposit, an option to open an additional indigent defense CD (which the court may open after Jan. 1), and removal of a prior option to invest in tech schools. The presenter said that in 2020 the county had considered investing in tech schools but the county's depository bank has kept pace with returns, so the policy no longer includes that option.
The presenter referenced the Texas Public Funds Investment Act, and stated the policy will be presented annually as required by statute. Commissioners discussed where the language appears in the document and how the new appointment and policy edits would be implemented.
Ending: The court approved the appointment and reviewed the policy edits; staff were asked to submit documentation of certification and to provide final policy paperwork after the incumbent's retirement.
