Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Policy topic
No spam. Unsubscribe anytime.
Board adopts investment policy delegating authority to treasurer and finance director
Summary
Vernon County adopted Resolution 2024‑01 establishing an Investment Policy that delegates investment authority to the Treasurer and Finance Director and designates official public depositories, citing Wisconsin statutes.
The Vernon County Board adopted Resolution 2024‑01 to establish an Investment Policy and designate public depositories. Finance Director Bobbi Johnson told the board the policy "ensures that investments are being made according to the policy with the county's best interest in mind," and that it delegates authority to the Treasurer and Finance Director (or designee) to make investment decisions in compliance with Wisconsin Statutes.
The adopted policy references Sections 34.01 and 34.05 of the Wisconsin Statutes and Chapter 34 and Section 66.0603. It sets objectives for safety, liquidity, and yield; requires internal controls and custodial arrangements; restricts certain issuers and maturities; and calls for periodic reporting to the Finance Committee and County Board. Motion to adopt was made by Supv Olson and seconded by Supv Wilson; the voice vote carried with most voting in favor and Supv Bringe opposed.
