3. Amador County Treasurer and Treasury Oversight Committee
Government Code Section 27130
The Legislature finds and declares that local agencies, including
school districts, should participate in reviewing the policies that
guide the investment of those funds. The Legislature further
finds and declares that by pooling deposits from local agencies and
other participants, county treasuries operate in the public
interest when they consolidate banking and investment activities,
reduce duplication, achieve economies of scale, and carry out
coherent and consolidated investment strategies. The Legislature
further finds and declares that the creation of county treasury
oversight committees will promote the public interest by involving
depositors in the management of their funds and by enhancing the
security and investment return on their funds by providing a more
stable and predictable balance for investment by establishing
criteria for the withdrawal of funds.
Government Code Section 27131
The board of supervisors in each county or city and county shall,
if the county or city and county is investing surplus funds,
establish a county treasury oversight committee. The board of
supervisors, in consultation with the county treasurer, shall
determine the exact size of the committee, which shall consist of
from 3 to 11 members, and the categories from which the members
shall be represented, as specified in subdivisions (a) to (g),
inclusive, of Section 27132. Members shall be nominated by the
treasurer and confirmed by the board of supervisors.
Government Code Section 27132
The county treasury oversight committee, pursuant to Section 27131,
shall consist of members appointed from the following:
(a) The county treasurer.
(b) The county auditor, auditor-controller, or finance director, as
the case may be.
(c) A representative appointed by the county board of supervisors.
(d) The county superintendent of schools or his or her designee.
(e) A representative selected by a majority of the presiding
officers of the governing bodies of the school districts and
community college districts in the county.
(f) A representative selected by a majority of the presiding
officers of the legislative bodies of the special districts in
the county that are required or authorized to deposit funds in
the county treasury.
(g) Up to five other members of the public.
(1) A majority of the other public members shall have expertise
in, or an academic background in, public finance.
(2) The other public members shall be economically diverse and
bipartisan in political registration.
Government Code Section 27133 excerpt
In any county that establishes a county treasury oversight
committee pursuant to this article, the county treasurer shall
annually prepare an investment policy that will be reviewed and
monitored by the county treasury oversight committee . . .
Government Code Section 27134
The county treasury oversight committee shall cause an annual audit
to be conducted to determine the county treasury' s compliance with
this article. The audit may include issues relating to the
structure of the investment portfolio and risk.
Government Code Section 27137
Nothing in this article shall be construed to allow the county
treasury oversight committee to direct individual investment
decisions, select individual investment advisors, brokers, or
dealers, or impinge on the day-to-day operations of the county