2018-059 - Approving the City's Statement of Investment Policy

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