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Hunt County court updates investment policy to allow longer maturities and designate treasurer as sole investment officer
Summary
After an annual review, the court approved changes to the county investment policy to extend maximum individual investment maturity to five years, set portfolio weighted average maturity to three years or less, authorize commercial paper via pooled investments, and label the county treasurer as the sole investment officer to strengthen separation of duties.
County finance staff presented recommended updates to Hunt County's investment policy to keep the document aligned with statute and to allow modest portfolio flexibility. The key changes approved by the court were: extending the permissible maximum maturity of any single investment from 36 months to five years, setting the maximum weighted average maturity (WAM) for the overall portfolio at three years or less, and adding a line that clarifies commercial paper is an authorized investment when purchased through an authorized local government investment pool (e.g., prime pools that use commercial paper in their portfolios).
Staff (identified as Britney by the court) also recommended designating the county treasurer as the sole investment officer, with auditing and court approval processes retained to preserve checks and balances. Commissioners asked whether the changes would affect cash flow (staff said no) and how oversight would operate; staff replied that all investments still require court approval and that the auditor retains review and oversight. The court approved the policy renewal and related resolutions by voice vote.
