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Treasurer » Public Information

Management of the Investment Pool

The San Bernardino County Pool consists of the pooled monies held by the County Treasurer on behalf of the County, school districts, community college districts, and certain special districts within the County. As of September 30, 2006, total assets of the pool were approximately $3.4 billion.

It is the policy of the Treasurer to invest public funds in a manner which will preserve the safety and liquidity of all investments within the County investment pool while obtaining a reasonable return within established investment guidelines. Accordingly, pursuant to our County Investment Policy, the Treasurer’s Office is guided by the following principles, in order of importance:

Safeguarding of investment principal
Maintenance of sufficient liquidity to meet daily cash flow requirements
Achievement of a reasonable rate of return consistent with the above objectives

The Treasury Pool is actively managed in accordance with the California Government Code, the Treasurer's Statement of Investment Policy, and internal investment guidelines. The Investment Policy is reviewed annually by the County's Treasury Oversight Committee and approved by the County Board of Supervisors.

The pool pursues its objectives by investing in a diversified portfolio of high-quality securities in accordance with State law, which include U.S. Treasury and agency securities, commercial paper, certificates of deposit, and repurchase agreements with highly rated counterparties. Commercial paper and certificates of deposit are only purchased from approved issuers. The pool seeks to maintain an effective duration of between 0.75 and 1.00 years, which is accomplished by laddering maturities to both meet cash flow needs and generate a reasonable rate of return.

Credit Ratings

The San Bernardino County Treasury Pool is rated annually by each of the three major rating agencies. Currently, the pool is assigned the following ratings:

	Fitch IBCA	AAA / V1+
	Moody's	Aaa / MR1
	Standard & Poor's	AAAf / S1+

These ratings are the highest available ratings for variable net asset value pools.

For more information, please see the list of Rating Agencies.

For More Information

For more information regarding the San Bernardino County Treasury Pool, please see the List of Contacts, for the Treasurer’s Office.