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County-Managed Government Money Investment Pool Rises to $8.8B

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    The San Diego County investment pool that manages excess cash from some 100 local government agencies and invests it in safe securities has grown to $8.8 billion in assets, the second-largest such investment pool in California.

    The fund, which is managed by County Treasurer-Tax Collector Dan McAllister, received the highest credit rating from Standard & Poor’s, AAAf, making it 13 years in a row it’s achieved that rating.

    In addition to managing money belonging to 42 public school districts, it manages funds for five community college districts, the San Diego County Regional Airport Authority, Sandag, the Metropolitan Transit Service and several smaller cities and water, fire and cemetery districts.

    A 10-member oversight committee regularly reviews the fund’s operations. Ben Dillingham was recently named chairman of the oversight committee, a job formerly held by Vernon Evans, who retired as chief financial officer of the Airport Authority in March.
     

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