To: Board of Supervisors
Department or Agency Name(s): Auditor-Controller-Treasurer-Tax Collector
Staff Name and Phone Number: Erick Roeser 565-3285
Vote Requirement: Majority
Supervisorial District(s): Countywide
Title:
Title
Appoint a School Districts and Community Colleges District Member to the Treasury Oversight Committee
End
Recommended Action:
Recommended action
Adopt a Resolution appointing Lisa Cavin to the Treasury Oversight Committee as the School Districts and Community College District Representative for a four-year term beginning on January 1, 2024 and ending on December 31, 2027.
end
Executive Summary:
In October 1996, the Board of Supervisors established the Sonoma County Treasury Oversight Committee in accordance with California Government Code §27131 <https://leginfo.legislature.ca.gov/faces/codes_displaySection.xhtml?lawCode=GOV§ionNum=27131>. Government Code §27131 allows the Board of Supervisors to establish a county treasury oversight committee when investing surplus funds. Members are nominated by the County Treasurer and confirmed by the Board of Supervisors. The Auditor-Controller-Treasurer-Tax Collector is requesting that Lisa Cavin be appointed as the School Districts and Community College District Representative of the Treasury Oversight Committee.
Discussion:
Pursuant to Title 3, Division 2, Part 3, Article 6 of the California Government Code (Sections 27130-27137), the Treasury Oversight Committee (Committee) is responsible for reviewing and monitoring the County Treasury Investment Policy and calling for an annual audit to determine the County Treasury’s compliance with Article 6. The Committee does not direct individual investment decisions, select individual investment advisors, brokers, or dealers, or affect the day-to-day operations of the County Treasury.
The Committee consists of six (6) members:
1. A representative appointed by the County Board of Supervisors (Public Member)
2. The Sonoma County Auditor-Controller-Treasurer-Tax Collector
3. The Sonoma County Superintendent of Schools
4. A representative of the Special Districts in the County
5. The Sonoma County Administrator
6. A representative of the School Districts and Community College District
The School Districts and Community College District position on the Committee became vacant prior to the August 2022 Committee meeting when Mr. Rick Edson accepted a position with a school district outside of the County.
Lisa Cavin is the candidate for the School and Community College District member recommended by the Sonoma County Office of Education and is supported by a majority of the Sonoma County School and Community College districts. Ms. Cavin currently serves as the Associate Superintendent, Chief Business Official for the Santa Rosa City Schools District (SRCS) and oversees a $200 million general fund budget. Ms. Cavin joined SRCS in 2022 after serving as the Chief Business Official for Plumas Unified School District since 2015. Ms. Cavin holds a Bachelor of Arts in Organizational Management from the University of Arizona and is currently pursuing a Masters in the same field.
Prior Board Actions:
10/05/21 - Rick Edson as School Districts and Community College Member and Donna Dunk as Public Member (Resolution 19-0795)
11/01/16 - Tom Ford appointed as Public Member (Resolution 16-0421)
06/24/14 - Greg Jahn appointed as Public Member (Resolution 14-0280)
04/16/13 - Treasury Oversight Committee Membership redefined (Resolution 13-0137)
09/13/11 - Don Dutil reappointed as Public Member (Resolution 11-0487)
08/11/09 - Treasury Oversight Committee Membership redefined (Resolution 09-0747)
05/15/01 - Treasury Oversight Committee Membership redefined (Resolution 01-0570)
11/05/96 - Appointment of 4 Members (Resolution 96-1443)
10/08/96 - Treasury Oversight Committee Established (Resolution 96-1362)
Fiscal Summary
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FY 23-24 Adopted |
FY 24-25 Projected |
FY 25-26 Projected |
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Narrative Explanation of Fiscal Impacts:
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Narrative Explanation of Staffing Impacts (If Required):
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Attachments:
Resolution
Related Items “On File” with the Clerk of the Board:
None