After funds are collected by the Treasurer, but before they go into active use for the provision of services, the Treasurer’s Office invests those funds in order to make the best use of tax dollars and maximize how far those tax dollars go. In order of importance, the Treasurer’s Office invests funds to ensure the safety of those tax dollars, that the county’s investments are sufficiently liquid (or accessible) for the county’s expected cash needs, and to earn a competitive rate of return over the course of the market’s cycles of rise and fall.
Investment Advisory Committee
The investment activities of the Treasurer’s Office are monitored and overseen by the Investment Advisory Committee (IAC), a group made up of the Treasurer and two of the three county Commissioners. This group meets on a quarterly basis to review the county’s investments and policies.
The county utilizes a number of different securities to meet its investment objectives. Those securities are prescribed by Ohio law. No securities purchased by the Treasurer have a maximum final maturity of more than 5 years from the date of purchase, unless specifically authorized by a unanimous vote of the Investment Advisory Committee. This ensures ready access to county funds as they are needed. Securities may be sold or redeemed prior to maturity to enhance the return on the investment, to restructure the portfolio, to diversify, or as cash needs warrant.
Each quarter, the Investment Advisory Committee meets to review the county’s investments and policies. This meeting includes a review of overall economic indicators, a discussion of necessary adjustments and changes in the county’s investment portfolio to account for those indicators, and a review of the county’s investments over time. Reports will be updated as they are available.