The Treasury Department
The Treasury Department is the depository for county agencies, school districts, and special district funds. All banking functions are handled in Treasury, which is in all respects the equivalent of a small business bank processing over $4B annually. The Treasurer selects the official county bank to be the custodian of those funds.
Most county agencies and most school districts are required to deposit their funds in the Treasury, and all the funds received by the Collections Department are placed in the Treasury. The Treasury monitors balances, deposits, and transfers. The Treasury approves payment methods, participates in bond issuances by the County and by school districts, provides a cash window for public needs, and manages the vault spaces used by other county agencies.
The Investment Pool
The Treasurer-Tax Collector manages the $2B local agency investment fund, pursuant to policy guidelines established by the Board of Supervisors with input from the Treasurer and the Treasury Oversight Committee. Over 250 government agencies participate in the pool. The Treasury Department distributes pool earnings quarterly. The pool holds the highest possible rating for municipal investment pools issued by Standard & Poor’s.
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