The Treasurer is responsible for investing the cash reserves of approximately 80 different government entities geographically located within the county with over 400 different funds. For 2014, the average daily balance of these funds was $832 million.
In 1994, the Spokane County Investment Pool (SCIP) was created to provide a more efficient way to manage these cash reserves and maximize interest income. The objectives of the pool, in order of importance, are safety, liquidity, and return. All investment decisions are governed by the Spokane County Investment Policy (PDF), and reviewed monthly at a meeting of the Spokane County Finance Committee.
The Policy has been awarded Certificates of Excellence by the Municipal Treasurer’s Association of the United States and Canada, and by the Washington Municipal Treasurer’s Association. All investments must meet requirements of legality, as defined by Washington State Law.