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 Budget Requested |
Choose an item. |
$ |
$ |
$ |
Choose an item. |
$ |
$ |
$ |
Choose an item. |
$ |
$ |
$ |
Total Additional Budget Requested |
$ |
$ |
$ |
Total Funding Sources |
$ |
$ |
$ |
Personnel (Fill out section only if requesting new PCNs) |
Current Position Count for Service |
- |
- |
- |
Additional Positions Requested |
- |
- |
- |
Total Personnel |
- |
- |
- |
Anticipated Implementation Date: December 2021
Emergency/Disaster Recovery Note: Not an emergency, disaster, or COVID-19 related item
Contact(s) name, title, department: Amy Perez, Director of Financial Management, Office of Management and Budget
Attachments (if applicable): Harris County Investment Policy