The county’s investment portfolio shall be designed to attain a market rate of return throughout budgetary and economic cycles, taking into account prevailing market conditions, risk constraints for eligible securities, and cash flow requirements. The performance of the portfolio shall be compared to the average yield on the U.S. Treasury security that most closely corresponds to the portfolio’s weighted average effective maturity. When comparing the performance of the county’s portfolio, all fees involved with managing the portfolio shall be included in the computation of the portfolio’s rate of return net of fees.
(Ord. 2019-01, passed 1-28-2019; Ord. 2020-01, passed 1-27-2020; Ord. 2021-01, passed 1-25-2021; Ord. 2022-01, passed 1-24-2022)