Ill. Admin. Code tit. 74 § 719.300

Current through Register Vol. 48, No. 50, December 13, 2024

Section 719.300 - Responsibilities of the Treasurer

The Treasurer exercises authority and control over the management of the Technology Development Accounts by setting applicable policies and procedures that are followed by the Treasurer and Investment Advisor. As such, key roles and responsibilities include, but are not limited to:

a) Investment Policy - The Treasurer is responsible for drafting this policy and reviewing it at least annually to ensure accuracy and continued relevance.

b) Oversight - The Treasurer is responsible for the direction of investments and administration of the assets of the Technology Development Accounts.

c) Investment Advisor - In order to properly carry out its responsibilities, the Treasurer may use one or more Investment Advisors to assist in the administration of the Technology Development Accounts.

d) Performance and Fee Monitoring - The Treasurer will review the investment performance of the TDA II-Recipient Fund, as well as the fees, on a quarterly or annual basis, as determined by the Treasurer.

e) Due Diligence - The Treasurer will monitor investments and participate in operational due diligence activities in coordination with the contractors retained to assist in the administration of the Technology Development Accounts.

f) Accounting - Technology Development Accounts assets must be accounted for separately from other Treasurer monies. The Treasurer will execute investment valuation procedures in compliance with Statement No. 72, Fair Value Measurement and Application, February 2015 of the Governmental Accounting Standards Board of the Financial Accounting Foundation, evaluating available inputs for investments to determine the input level most applicable.

Ill. Admin. Code tit. 74, § 719.300

Adopted at 43 Ill. Reg. 7003, effective 5/28/2019.