The Madera County Treasury was found to be in compliance with all provisions of the Treasurer’s Investment Policy during a recent examination performed by the county’s external audit firm, Roseville-based Gallina LLP.
“No negative findings were discovered and none were reported,” said Madera County Treasurer-Tax Collector Tracy Kennedy-Desmond. “All practices are in compliance with County Investment Policy as approved by the Board of Supervisors and authorized by the California Government Code.”
A compliance audit is performed annually, and its results are presented at Treasury Oversight Committee meetings, Kennedy-Desmond said.
The Treasury Oversight Committee has been in existence in Madera County since 1997 and although the mandate to maintain this committee sunsetted several years ago, Kennedy-Desmond said she felt a committee such as this has important critical value...