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Finance committee recommends adoption of DeWitt County Investment Policy for FY26
Summary
Treasurer S. Jade Russell presented an investment policy for FY2025–26 establishing objectives (safety, liquidity, diversification), authorized depositories, collateral rules and reporting; the committee recommended adoption to the full board.
The Finance Committee reviewed the DeWitt County Investment Policy drafted by Treasurer S. Jade Russell for fiscal year 2025–26. The policy lists objectives such as safety of principal, portfolio liquidity, and diversification; it names approved depositories (Heartland Bank and Trust; First National Bank and Trust; DeWitt Savings Bank; Longview Community Bank; First Mid Bank and Trust; Illinois Funds Investment Pool) and requires monthly reporting to the county board.
The policy gives the Treasurer discretion to require collateral and sets a minimum collateralization threshold for deposits exceeding 35% of a financial institution’s capital and surplus, with acceptable collateral types enumerated (U.S. government securities, federal agency obligations, State of Illinois obligations, DeWitt County obligations, certain municipal obligations). Committee member Megan Myers moved and Claro Carter seconded a recommendation to the full board; voice vote carried.
