Welcome to the Department of Finance, Treasury Division Website. Treasury has 23 employees who strive to make your dealings with the County a pleasant experience.
The Treasury Division is responsible for the receipt, custody, depository, investment accounting, and recording of funds for the County, school districts, joint power authorities and special districts whose funds are held and invested by the County Treasurer (Director of Finance). The two most common payment items we receive and deposit are for property taxes and consolidated utilities payments. We also collect property assessments for many Reclamation Districts in the southwestern delta portion of the County.
At fiscal year end, June 30, 2015, the Treasury balance (investment pool and fiscal agent funds) was over $2.9 billion. Investment accounting and monitoring is a key activity of the Division, and we work very closely with both our client investors and Investment Division to maintain the highest standards of safety, liquidity and return for funds in our custody.
The Division’s other responsibilities include accounting and acting as paying agent for a variety of debt issues for various County affiliated entities. In coordination with the Investment Division, the Treasury is very active in assisting those entities during the issuance process for both short-term and long-term debt, and coordinating various post-issuance debt covenant monitoring. At fiscal year end, the Treasury acted as trustee for the investment of 250 different funds totaling nearly $616 million.
The Division also operates a high speed Remittance Processing unit which processes and deposits nearly three and a half million checks every year. In addition, the Treasury acts as trustee in connection with unclaimed property and is responsible for the issuance, billing, collection, redemption, and foreclosure of improvement bonds.
Due to the sensitive nature of being responsible for investing and spending public funds, the Director of Finance and Treasury staff are very conscious of any potential misappropriation and fraud. To assist us in safeguarding the public’s funds we have instituted numerous state-of-the-art safeguards and controls, both internally and with our bank, to lessen our risk of loss from these types of crimes.
We hope you find our site informative and helpful. If you have any questions or comments, or find an area you would like added or improved, please contact us. We look forward to hearing from you!