Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Investment Policy topic
No spam. Unsubscribe anytime.
Board hears investment policy rationale favoring county pool; moving funds seen as complex
Summary
Deputy Superintendent Kevin Bultema explained the Board’s Investment Policy (3430), saying districts typically keep funds in the San Mateo County investment pool to prioritize principal protection over higher returns and that moving funds involves complex steps and strict public-fund ratings.
The Board received a review of Board Policy 3430 (Investment Policy) on Nov. 19 from Deputy Superintendent Kevin Bultema.
Bultema said the County investment pool is used primarily for security: the county treasury manages government funds with an emphasis on preserving principal rather than pursuing higher yields. He explained that although past rules required funds remain in the county treasury, newer provisions permit movement of funds, but doing so requires multiple steps and strict adherence to investment ratings for public funds.
Board Member Mike O’Neill asked why districts’ only practical investment option is the county pool. Bultema said the county treasury’s specialization and the priority on principal protection make the pool the recommended option for most districts. Board Member Susan Alvaro added historical context about earlier mandatory requirements to keep funds in the county treasury.
No formal action was taken; the review provided context for future discussion about district investment options and risk tolerance.
