Laserfiche WebLink
5.0 DELGATION OF AUTHORITY <br />5.1 Investment Authority and Responsibility <br />The authority for conducting investment transactions resides with the Executive <br />Director of Finance and Management Services Agency (FMSA) as chief fiscal <br />officer and ex officio City Treasurer. The Executive Director for (FMSA) under <br />the general direction of the City Council, shall be responsible for all investment <br />transactions undertaken and shall establish a system of controls to regulate the <br />investment activities of subordinate officials. <br />5.2 Delegation of Authority <br />The Executive Director for FMSA or his/her designees shall invest all funds for <br />the City in accordance with the City adopted investment policy. The Executive <br />Director for FMSA hereby delegates day-to-day responsibility for the investment <br />of City funds first to the FMSA Treasury and Customer Services Manager, <br />holding managerial and supervisory responsibility over the treasury and <br />investment functions of the FMSA Treasury and Customer Service Division <br />(Treasury), and second, in an acting oversight capacity, to the Assistant Director <br />of Finance, holding assistant executive management responsibilities over FMSA. <br />Each designee shall act in accordance with the established policies and internal <br />controls set forth in the investment policy. <br />5.3 Assignment of Activities <br />Supporting and ancillary activities, including but not limited to: cash flow analysis, <br />municipal or corporate bond credit worthiness evaluation, investment risk <br />assessment, portfolio analysis, purchase and sale recommendation, safekeeping, <br />policy and investment procedures review recommendation, and monthly and <br />quarterly reporting, may be assigned to qualified persons within Treasury as <br />deemed appropriate by the Treasury and Customer Services Manager and/or <br />Assistant Finance Director. <br />5.4 Qualified Persons <br />Qualified persons shall refer to: (1) persons holding either a California Municipal <br />Treasurers Association, California Treasury Certificate and/or Certified California <br />Municipal Treasurer Certificate; or an Association of Public Treasurers of the United <br />States and Canada, Certified Public Finance Administrator Certificate, or a National <br />Association of State Treasurers Certificate in Public Treasury Management; or (2) <br />persons who are performing investment related duties under the guidance and <br />direction of certificate holders. <br />City of Santa - Annual paE� July 1, 2018 <br />6 - <br />Statement of Investment Policy 5 C ^1 <br />2June 30, 2019 <br />