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Commissioners debate Investment Policy wording on multi-year maturities
Summary
A proposed change to allow investments under four years prompted a dispute over phrasing: Treasurer Huddleston's draft says "at least 50% under four years," Chair Fischer recommended "no more than 50%," and Commissioner Wilson defended the original wording; staff were told to revise language.
Treasurer Sherrie Huddleston presented a draft revision to the county's Investment Policy that would expand allowable maturities from under one year to under four years to provide additional flexibility. Huddleston described the draft language as written, saying it called for "at least 50% under four years."
Chair Mark G. Fischer raised a concern with that phrasing and recommended changing it to "no more than 50%" so the policy would not require the county to lock a majority of funds into longer-term investments. Commissioner Kendal Wilson said the wording as presented was appropriate. The commission ultimately directed staff to revise the policy language and return with an updated draft for future consideration.
