Harris County Logo
Share to Facebook Share to Twitter Bookmark and Share
File #: 21-6503    Version: 1 Name:
Type: Policy Status: Agenda Ready
File created: 11/16/2021 In control: Commissioners Court
On agenda: 11/30/2021 Final action:
Title: Request for approval of the inclusion of Unity National Bank, a minority-owned bank, as an authorized bank in the County's Investment Policy.
Attachments: 1. 21-6503 Unity Bank.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.
Department: Management and Budget
Department Head/Elected Official: Dave Berry, County Administrator

Regular or Supplemental RCA: Regular RCA

Type of Request: Policy

Project ID (if applicable): N/A
Vendor/Entity Legal Name (if applicable): N/A
MWDBE Participation (if applicable): Unity National Bank is a MWBE bank

Request Summary (Agenda Caption):
title
Request for approval of the inclusion of Unity National Bank, a minority-owned bank, as an authorized bank in the County's Investment Policy.
end

Background and Discussion:
The Harris County depository contract currently does not have MWBE participation. At the County Treasurer's lead, we have worked with Cadence and Unity Bank to form a partnership that will incorporate a minority-owned bank into the county's banking and investment business.

Attached is the Harris County Investment Policy, which includes the following change:
Exhibit "B": List of Authorized Banks, Broker/Dealers/Money Market Funds, and Investment Pools for investment of County funds
* Addition of Unity National Bank, a minority-owned depository institution, to the list
The policy has been prepared in accordance with the Public Funds Investment Act.


Expected Impact:

No monetary impact



Alternative Options:
N/A



Alignment with Goal(s):
_ Justice and Safety
X Economic Opportunity
_ Housing
_ Public Health
_ Transportation
_ Flooding
_ Environment
_ Governance and Customer Service

Prior Court Action (if any):
Date
Agenda Item #
Action Taken





Location:
Address (if applicable):
Precinct(s): Choose an item.


Fiscal and Personnel Summary
Service Name


FY 21-22
FY 22
Next 3 FYs
Incremental Expenditures (do NOT write values in thousands or millions)
Labor Expenditures
$
$
$
Non-Labor Expenditures
$
$
$
Total Incremental Expenditures
$
$
$
Funding Sources (do NOT write values in thousands or millions)
Existing Budget
Choose an item.
$
$
$
Choose an item.
$
$
$
Choose an item.
$
$
$
Total Current Budget
$
$
$
Additional Budge...

Click here for full text