Weatherford Democrat

Front Page

February 25, 2014

Treasurer’s investment policy on hold

By JUDY SHERIDAN

A investment policy for Parker County — proported to help boost county revenues by tens of thousands of dollars — drew discussion but not approval from County Judge Mark Riley and commissioners Monday, less than a week before primary elections.

According to recently appointed Parker County Treasurer Jenny Barnwell, a candidate for office and the revised policy’s author, the proposed policy is more flexible than the current one.

The policy would use investment vehicles like U.S. Treasury bonds and notes, in addition to the county’s two money market accounts, she said.

Those two accounts together netted around $6,000 for the county in 2012, Barnwell told the Democrat, while a laddered, structured portfolio — offered by one of the county’s current dealers — would allow the county to move “from .03 percent to .5 percent or better, she said, yielding “a little over $100,000 per year, based on $3.5 million.” 

The proposed policy meets the standards set by the state in the Public Funds Investment Act, according to Barnwell, offering safety as well as liquidity. It includes the percentages of the different investment vehicles the county can hold, as well as their maturity limits, she said. 

“If we wanted to buy treasury notes, bonds or bills, we can hold them up to three years,” she told the Democrat. “If we want to do a fully collateralized repurchase agreement, we can hold those for 90 days.”

In addition, the proposed policy requires broker dealers who want to do business with the county to provide company financials, she said, ensuring they have “as deep pockets as we do.”

Her policy has been reviewed by the Texas Association of Counties and county financial adviser First Southwest, the treasurer told the court, as well as the legal departments of three other entities that write policy.  

When Barnwell asked commissioners to approve the policy, Judge Mark Riley said that the court — who he said was ultimately responsible — should look at “controlling it a little more,” and suggested an internal investment review team including the county auditor and attorney.

Text Only
Front Page
  • Aledo City Council Place 2 Candidates.jpg Q&A: Aledo City Council Place 2 candidates

    With some contested races in area school board and city council races on the May 10 ballots, the WD will provide a closer look at some of those through a question-and-answer feature with the candidates. Early voting begins April 28. Today we look at the candidates running for Place 2 on Aledo City Council.

    April 18, 2014 1 Photo

  • USAF photo.jpg Heroes riding for heroes

    The 12th annual Ride for Heroes bike ride this Saturday in Aledo will include some VIPs: members of the United States Air Force Cycling Team.

    April 18, 2014 1 Photo

  • Little league makes pitch to city for lower user fees

    Weatherford Little League officials have asked the city to lower user fees to the league.

    April 17, 2014

  • 0418 one oregel, oscar.jpeg Trunk full of cash leads to trip to jail

    After a traffic stop late Monday night in Parker County, the Texas Department of Public Safety seized more than $54,000 from a man who, DPS says, admitted to trafficking in narcotics for people he met in Mexico.

    April 17, 2014 1 Photo

  • cigarette butts.jpg No butts about it, smoking ban nears

    Weatherford eating establishments have just over a week to get their no smoking signs in place and prepare for the no smoking ordinance enacted by the city council in February to go into effect.

    April 17, 2014 1 Photo

  • Proposed change in city charter goes before W’ford voters next month

    Weatherford residents will have the chance to vote on a pair of charter amendments on Election Day May 10.

    April 16, 2014

  • IMG_7134.JPG Despite cold, peach crops looking rosy

    Parker County peach growers won’t know for sure for a few more days, but as of Wednesday, one day after April temperatures plummeted into the low 30s, they’re predicting a good, even rosy, peach harvest for this year’s Parker County Peach Festival.

    April 16, 2014 1 Photo

  • Animal shelter throwing a party

    The Weatherford Parker County Animal Shelter made a promise to its staff, volunteers and rescues that if the shelter was able to achieve a 90 percent live release rate by the end of March, the shelter would throw a community-wide party to celebrate its accomplishments.

    April 16, 2014

  • Veterans Memorial Rendering.jpg Cabin fever

    Weatherford Parks and Recreation officials are looking to renovate two areas to make them more user friendly.

    April 16, 2014 1 Photo

  • Parker County man killed in single-vehicle wreck

    A 60-year-old Parker County man was killed around 9:30 a.m. Tuesday in a one-vehicle crash in the 2100 block of FM Road 3325, also known as Farmer Road.

    April 15, 2014

Must Read
Top News
House Ads
AP Video
Raw: Magnitude-7.2 Earthquake Shakes Mexico City Ceremony at MIT Remembers One of Boston's Finest Raw: Students Hurt in Colo. School Bus Crash Raw: Church Tries for Record With Chalk Jesus Raw: Faithful Celebrate Good Friday Worldwide Deadly Avalanche Sweeps Slopes of Mount Everest Police Arrest Suspect in Highway Shootings Drought Concerns May Hurt Lake Tourism Vermont Goat Meat Gives Refugees Taste of Home Calif. Investigators Re-construct Fatal Bus Cras Mayor Rob Ford Launches Re-election Campaign Appellate Court Hears Okla. Gay Marriage Case Author Gabriel Garcia Marquez Dead at 87 Chelsea Clinton Is Pregnant Flamingo Frenzy Ahead of Zoo Construction Crew Criticized Over Handling of Ferry Disaster Agreement Reached to Calm Ukraine Tensions Boston Bombing Survivors One Year Later
Hyperlocal Search
Premier Guide
Find a business

Walking Fingers
Maps, Menus, Store hours, Coupons, and more...
Premier Guide
Stocks