Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Board advances new county investment policy and restores flexibility to delegate authority
Summary
Supervisors approved an investment policy that tightens county investment rules and removed a long-standing prohibition on delegating investment authority to the CEO/CFO, prompting debate about fiduciary oversight and historical county investment failures.
The Board of Supervisors voted on Feb. 11 to adopt an updated Orange County investment policy and to remove a statutory-era prohibition that prevented delegating investment authority to the county CFO. The changes set an annual investment‑policy review and allow the CEO to delegate authority to a chief financial officer if the board so chooses.
Sherry Friedenridge, the elected Treasurer-Tax Collector, urged the board to…
Already have an account? Log in
Subscribe to keep reading
Unlock the rest of this article — and every article on Citizen Portal.
- Unlimited articles
- AI-powered breakdowns of topics, speakers, decisions, and budgets
- Instant alerts when your location has a new meeting
- Follow topics and more locations
- 1,000 AI Insights / month, plus AI Chat
