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Treasurer and district attorney press board on investment authority as supervisors approve first reading
Summary
Board approved first reading of an ordinance to amend county investment policy and remove a prohibition on delegating investment authority to the CFO; Treasurer Sherry Friedenridge urged keeping fiduciary authority with the treasurer and warned of historic oversight concerns, while county staff said the proposed policy would be more restrictive than state law.
The board considered a first-reading ordinance (supplemental 31k) to amend the county codified ordinances on investment authority and to delete an existing prohibition on delegating investment authority to the county’s chief financial officer.
Sherry Friedenridge, speaking in her official capacity as Treasurer-Tax Collector, urged the board to reconsider assuming or delegating investment…
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