The Treasurer’s Pool (the “Pool”) holds monies received from city departments and external agencies (such as the Unified School District and City College) and these funds are restricted for specific purposes. The Investment Division is responsible for managing and investing the City and County of San Francisco’s funds to ensure sufficient liquidity to meet all anticipated disbursements. Pursuant to California law, the department invests public funds in a manner that will provide:
- Preservation of capital
- Liquidity to meet the daily cash flow demands of the City
- Investment return while conforming to all state and local statutes governing the investment of public funds
Prior to making investments, the Treasurer’s Office will verify an entity’s support of the socially responsible goals listed below through direct contact or through the use of a third party such as the Investors Responsibility Research Center, or a similar ratings service. The entity will be evaluated at the time of purchase of the securities.
Investment of funds are encouraged in entities that:
- Support safe and environmentally sound practices and fair labor practices;
- Provide equality of rights regardless of sex, race, age, disability or sexual orientation.
- Offer banking products to serve all members of the local community
- Promote community economic development
- Have a demonstrated involvement in the development or rehabilitation of low income affordable housing
- Have a demonstrated commitment to reducing predatory mortgage lending and increasing the responsible servicing of mortgage loans.
Securities investments are encouraged in financial institutions that have a Community Reinvestment Act (CRA) rating of either Satisfactory or Outstanding, as well as financial institutions that are designated as a Community Development Financial Institution (CDFI) by the United States Treasury Department, or otherwise demonstrate commitment to community economic development.
Investments are discouraged in entities that:
- Manufacture tobacco products, firearms, or nuclear weapons
- Finance high-cost check-cashing, deferred deposit (payday lending) businesses
- Finance, either directly or indirectly, the Dakota Access Pipeline or, as determined by the Treasurer, similar pipeline projects.
The Treasurer offers opportunities for local financial institutions to receive substantial deposits to allow for re-investment in the San Francisco communities they serve.
Safe, Sound and Local
The Office of the Treasurer & Tax Collector makes available up to $80 million of the County’s Pooled Investment Fund available for investments in banks, credit unions and community development financial institutions (CDFIs) located in San Francisco that are backed by letters of credit issued by the Federal Home Loan Bank of San Francisco.
This offering is modeled after the Time Deposit program of the California State Treasurer’s Office.
"Safe, Sound and Local is a unique opportunity to safely put our City's money to work in our local economy."
Treasurer José Cisneros
Investments are backed by a letter of credit guarantee from Federal Home Loan Bank of San Francisco (FHLBank San Francisco), a cooperative, wholesale bank that helps meet community credit needs by providing readily available, competitively priced credit products and services to member financial institutions through all phases of the economic cycle.
FHLBank San Francisco members include commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions headquartered in Arizona, California, and Nevada.
Certificates of Deposit Program
The Treasurer is authorized to invest up to $240,000 in FDIC -insured CDs with firms having at least one branch office within the boundaries of the City and County of San Francisco.
For more information, contact Chief Investment Officer Bob Shaw
Time Deposit Resolution (pdf)
Time Deposit Information (pdf)
It is the policy of the Office of the Treasurer & Tax Collector of the City and County of San Francisco (Treasurer’s Office) to invest public funds in a manner which will preserve capital, meet the daily cash flow demands of the City, and provide a market rate of return while conforming to all state and local statutes governing the investment of public funds.
The Treasurer’s Pool (the “Pool”) holds monies received from city departments and external agencies (such as the Unified School District and City College) and these funds are restricted for specific purposes. For example, in April 2017, the Pool received $188.5 million as a result of the issuance of $180 million in general obligation bonds for the Unified School District.
August 2020 (pdf)
July 2020 (pdf)
June 2020 (pdf)
May 2020 (pdf)
April 2020 (pdf)
March 2020 (pdf)
February 2020 (pdf)
January 2020 (pdf)
December 2019 (pdf)
November 2019 (pdf)
October 2019 (pdf)
September 2019 (pdf)
August 2019 (pdf)
July 2019 (pdf)
June 2019 (pdf)
May 2019 (pdf)
April 2019 (pdf)
March 2019 (pdf)
February 2019 (pdf)
January 2019 (pdf)
December 2018 (pdf)
November 2018 (pdf)
October 2018 (pdf)
September 2018 (pdf)
August 2018 (pdf)
The Treasury Oversight Committee for the City and County of San Francisco is an advisory body to the Treasurer. The members – primarily the depositors of funds into the City and County Treasury – review the investment policies that guide the management of their funds and enhance the security and investment return on those funds.
The Committee consists of the following members, each of whom shall be nominated by the Treasurer and confirmed by the Board of Supervisors:
- Seat 1 shall be held by the Controller or the controller’s designee.
- Seat 2 shall be held by the County Superintendent of Schools or the Superintendent’s designee.
- Seat 3 shall be held by the Chancellor of the Community College District or the Chancellor’s designee.
- Seats 4 and 5 shall be held by employees of City departments or local agencies that participate in the City’s pooled fund
- Seats 6 and 7 shall be held by members of the public who have expertise in, or an academic background in, public finance, and are economically diverse and bipartisan in political registration, nominated by the Treasurer and appointed by the Board of Supervisors.
Conditions for Membership.
- A Committee member may not be employed by an entity that had contributed to an election campaign of the Treasurer or a member of the Board of Supervisors in the previous three years.
- A Committee member may not directly or indirectly raise money for the Treasurer or a member of the Board of Supervisors while a member of the Committee.
- A Committee member may not secure employment with bond underwriters, bond counsel, security brokerages or dealers, or with financial services firms for three years after leaving the Committee.
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