Green moving on investment plan
The commissioners gave him the green light to submit the policy to the State Treasurer’s office. He’s expecting it to appear on the April 15 docket for the office’s advisory council, which meets only once a quarter.
“I’m not looking to do anything dramatic this year,” Green said. He said steps this year will be limited to setting the stage.
Once the state has completed its review and the county makes any suggested adjustments, he said, his priority will shift to analyzing county cash flow to understand the normal pattern of income and outgo and the restrictions placed on various elements. He said he needs to have a clear understanding in order to plan and place county investments effectively.
Green included an element calling for creation of a five-member board to provide investment advice and oversight. He proposed appointment of three qualified lay people to serve alongside the treasurer and one of the commissioners.
“That makes perfect sense, and it has precedent,” said Commissioner Kathy George.
Green said that winning authorization to make intermediate-term investments, which is up for consideration by the Legislature this year, should enable the county to triple its current return.
He sought and obtained early appointment to the post, following his victory in the November general election, in order to have a policy proposal completed in time.
Green said the state does not make a go, no-go determination. It simply provides an analysis with suggestions.
Final approval is up to the commissioners, he said, not the state.
“Once their formal board meets, we will get a letter outlining their review comments and suggestions,” he said. “It will be up to us if we wish to incorporate them or not.”
Green has experienced the process before, in his previous capacity as treasurer for the Yamhill Soil and Water Conservation District. So he is familiar with the procedure.
“Your ability to tailor this to the needs of our county, reflecting changes being proposed in the Legislature, really make this a usable document,” George said. “This is something that will really benefit us.”
Commissioner Mary Stern agreed, saying, “It’s amazing and exciting to think what the possibilities are.”