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County tightens investment pooling rules; service agreement to require 15‑day notice for large transfers
Summary
The commission approved updates to the county investment policy and an investment services agreement that adds procedures, including 15‑day notification for deposits or withdrawals above $5 million to reduce the risk of forced sales and losses for the pooled investment account.
Jefferson County commissioners approved an update to the county investment policy for FY25/26 and signed an investment service agreement that formalizes notifications and withdrawal options for entities participating in the county's pooled investment program.
Staff and advisors from GPA explained that a new notification period — 15 days for contributions/withdrawals above $5 million — will help the county manage liquidity and avoid selling investments at a loss when a participant suddenly withdraws funds. "Rather than that loss be spread amongst all participants in the pool, this language would allow us to direct those losses directly to the district themselves," one advisor said.
The board adopted the service agreement and the policy after discussion about auditor implications and alignment with other pools' practices.
