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Board moves to end voluntary investment pool participation, delays full overhaul of investment oversight
Summary
After extended discussion of staffing and reporting concerns in the Treasurer–Tax Collector's office, the board voted to rescind the voluntary pool participation program and continued consideration of broader reorganization of investment oversight to a future meeting.
After a lengthy public and board discussion on Feb. 24, the Orange County Board of Supervisors moved to terminate the county's voluntary pool participation program and continue deliberation of two other, broader oversight changes to a subsequent meeting.
Chair Chaffee summarized a series of concerns that prompted the board's action, including delayed statutory filings and staffing and management problems in the Treasurer–Tax Collector (TTC) office. "The treasurer is nearly a year late in preparing the annual statement of assets…
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