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Finance committee readies review of trust investment vendor after 11 years
Summary
Administrator Mike Sepic told the Finance Committee materials on investment companies were distributed and noted the county has not reviewed the trust investment vendor in 11 years, signaling a forthcoming vendor review for trust investments.
Administrator Mike Sepic told the Berrien County Finance Committee on June 25 that materials regarding investment companies for the Trust Investment Advisory Committee have been circulated to members. He said the county has not examined the existing vendor in 11 years, a gap the committee will now address.
The committee heard that the materials are intended to inform a vendor review process and committee members were given time to evaluate proposals. The report came during the Administrator-and-chair Q&A portion of the meeting and no formal motion was required. The update matters for county fiduciary oversight because vendor selection affects management of trust assets and the committee flagged the project for follow-up.
