55B - RESO INVESTMENT POLICY - Laserfiche WebLink

Home Browse Search

Annual Statement of Investment Policy June 18, 2019 Page 2 determine if any newly adopted state rules or regulations are required to be incorporated within the document or if any industry enhancements are recommended. Last year as a result of staffs research and analysis, substantive changes were made for the 2018-19 FY Annual Statement of Investment Policy. The revised policy was submitted to the Investment Policy Certification Committee of the Association of Public Treasurers of the United States & Canada (APTUS&C) and the California Municipal Treasurers Association (CMTA) for re -certification. During the course of the current fiscal year, the City of Santa Ana received Investment Policy Certifications from both the APTUS&C at the international North American level (Exhibit 3) and the CMTA at the state level (Exhibit 4). Only a handful of California cities currently hold dual certification. For FY 19-20 staff is recommending limited changes that are generally of a non -substantial nature. These proposed changes have been incorporated into the recommended City of Santa Ana Investment Policy Statement for FY 2019-20. The changes include, but are not limited to the following: • Addition of Appendix containing Broker/Dealer Questionnaire and Certification Form • Amendment of section on Authorized Investments to set an A-1 rating threshold for the purchase of Other State of California Local Agency Bonds • Amendment of section on Ineligible Investments to clarify status of purchases previously allowed under State Code • Amendment of section on Safekeeping and Custody and addition to Glossary of Referenced Terms to include definitions for the terms "Perfected Interest' and "Delivery vs. Payment'. • Update of California Debt and Investment Advisory Commission (CDIAC) Guidelines for Allowable Investment Instruments per State Government Code (As of January 1, 2019) Applicable to all Local Agencies • Update of California Investment Code Abstracts These changes continue to reflect new certification organization requirements mirroring the policy consensus of the Association of Public Treasurers of the United States & Canada and the California Municipal Treasurers Association. STRATEGIC PLAN ALIGNMENT Approval of this item allows the City to meet Goal No. 4 City Financial Stability, Objective No. 1 (Maintain a stable, efficient and transparent financial environment). 55B-2