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Commission reviews procurement and investment policies; no changes proposed
Summary
Staff reviewed procurement thresholds and the existing investment policy; commissioners were told both documents remain unchanged since the prior review (January 2024) and no edits were proposed at the meeting.
Staff summarized the investment policy’s objectives—legal compliance, principal protection, liquidity and reasonable return—and told the commission there were no recommended changes at this time. The clerk noted the investment policy had been reviewed previously and remained unchanged.
In a separate presentation, staff reviewed procurement thresholds and the required quotation and bidding processes for different dollar ranges (for example, purchase contracts between $750 and $3,499 require two verbal quotations; amounts above the specified upper thresholds require competitive bidding). Commissioners accepted the review and did not propose amendments at this meeting.
