The Board of County Commissioners has authority to invest all funds held by, or belonging to, Johnson County, its agencies or departments. The investment powers of the Board are derived from the statutory provisions of K.S.A. 12-1675, as amended, and have been established by home rule resolution. The provisions of this Investment Policy shall be enacted and interpreted in a manner that ensures compliance with all applicable state and federal laws and legal requirements, including specifically the provisions of K.S.A. 12-1675, as now adopted or hereafter amended.
The Investment Review Group (IRG) shall review the investment procedures at least annually and they shall suggest changes to the County Manager, who will have the authority to implement changes to procedures.
The County Treasurer, in the performance of his statutory duties, shall be responsible for the receipt and disbursement of funds for and on behalf of the County, and shall develop and implement procedures, within his office, that are consistent with the policies adopted by the Board for the use, investment, and management of County funds. The County Treasurer shall be responsible for establishing depository and banking practices which ensure that all funds received by the County, its agencies and departments are immediately available for and deposited in accounts and investments authorized by the Board.
The Finance Director shall be responsible for the establishment and development of cash management practices and shall adopt and implement administrative procedures to comply with and effectuate the investment policies and objectives of the Board. The Finance Director shall be responsible for establishing practices and procedures which ensure that funds held by, and belonging to, the County are managed in a manner that complies with all State and Federal Laws, and the policies and strategies of the Board, and that provides for adequate funds to be available to timely meet all disbursement requirements and obligations of the County.