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Sedgwick County updates investment policy to align with state collateral program
Summary
County finance staff reported that Sedgwick County's primary depository has been onboarded to the state‑run Kansas Collateral Program under HB2152; the board adopted a revised investment policy that codifies the new collateral reporting and a wording change emphasizing 'preservation' of capital.
David Floyd, division finance director, presented a resolution April 15 to amend the county’s investment policy to reflect changes required by 2025 legislative reforms (House Bill 2152) that centralize pledged collateral in a state‑run pool.
Floyd said the county’s bank had been successfully onboarded to the Kansas Collateral Program and that monthly reporting now relieves county staff from handling pledged collateral directly. He told commissioners the updated policy preserves the county’s expanded investment authority while reflecting the program’s reporting and collateral requirements.
During the conversation Floyd asked the board to approve a minor wording correction in section five of the policy: replace the word "presentation" with "preservation" when describing the safety objective for investments. Counsel and staff confirmed the change and the commission adopted the resolution by roll call vote, 5‑0.
Why it matters: the new centralized collateral pool changes how public deposits are secured in Kansas and reduces administrative burden on county staff, while preserving the county’s priority objectives for investments: safety (preservation of capital), liquidity and yield.
Next steps: Finance staff will receive monthly reports from the state treasurer’s office and incorporate the revised language into the county’s formal investment‑policy document.
