Committee updates investment policy to disclose credit-union balance

Staff presented modest wording edits to the investment policy and described one substantive addition: explicit disclosure and review for a payroll/HSA balance held at a credit union that, with automation, is expected to carry approximately $100,000. Robert explained the account was formerly treated as a pass-through, but after payroll automation the account holds small balances requiring monitoring and reporting.

"We are going to, have and carry, about a $100,000 in that account," Robert said, explaining automation changes and the need to monitor the credit union's capital ratios. Staff also said they added language to report a credit-union-specific leverage metric because credit unions do not use the same tier 1 capital ratio as banks.

The committee moved (Dwayne) and seconded (Jeff) to approve the modifications; the motion passed on a voice vote. Committee members emphasized that the changes are small but important for transparency and compliance.