Title
a. Receive and accept the Treasurer’s Report of Investments for the quarter ending June 30, 2026.
b. Receive and approve the Treasurer’s Investment Policy for FY 2026-2027; and
c. Renew the Delegation of Investment Authority to the Treasurer-Tax Collector pursuant to California Government Code Section 53607.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Receive and accept the Treasurer’s Report of Investments for the quarter ending June 30, 2026.
b. Receive and approve the Treasurer’s Investment Policy for FY 2026-2027; and
c. Renew the Delegation of Investment Authority to the Treasurer-Tax Collector pursuant to California Government Code 53607.
SUMMARY:
Pursuant to Government Code Section 53646(b)(1), the Treasurer may submit a quarterly report of investment activities to the Board of Supervisors. The following discussion and attached exhibits summarize economic and market conditions and document investment activity for the period from April 1 through June 30, 2026.
The Treasurer conducts an annual review of the County of Monterey Investment Policy to ensure continued compliance with California Government Code and alignment with industry best practices. The proposed revisions are primarily administrative in nature and improve formatting, grammar, readability, and statutory references without changing the County's investment objectives, authority, practices, or applicable legal compliance. The policy also incorporates Senate Bill 595, which extends the maximum allowable maturity of commercial paper from 270 to 397 days, ensuring consistency with current California Government Code requirements. As required by Government Code Section 53607, annual renewal of the Board's delegation of investment authority to the Treasurer-Tax Collector is also recommended. Approval of the proposed Investment Policy and renewal of the Treasurer-Tax Collector's delegated investment authority will ensure uninterrupted investment operations and ...
Click here for full text