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The City currently authorizes pooled investment fund deposits only with LAIF which is <br />authorized under provisions in Section 16429.1 of the California Government Code as <br />an allowable investment for local agencies even though some of the individual <br />investments of the pool are not allowed as a direct investment by a local agency such <br />as the City of Santa Ana. <br />Government sponsored investment pools (Local Agency Investment Fund (LAIF), <br />County Pools, Joint PowersAuthority Pools, and the State Treasury Voluntary <br />Investment Program Fund), are sources for short-term cash management. <br />Before seeking City Council approval for participation in one or more additional <br />investment pools/money market mutual funds, the Executive Director for FMSA or <br />his/her designees will conduct athorough investigation the prospective pool prior to <br />recommending City investment. <br />Before recommending investing in a prospectivepool, the followingissues must be <br />reviewed: <br />A.The pool must meet the requirements of state statue. <br />B.The pool must provide a written statement of policy and objectives. <br />C.A questionnaire developed by Treasury Investment staff and approved by the <br />Treasury and Customer Services Manager or Assistant Director of Finance <br />shalladdress the following general topics: <br />i.A description of eligible investment securities, and a written statement <br />of investment policy and objectives. <br />ii.A description of interest calculations and how it is distributed, and how <br />gains and losses are treated. <br />iii.A description of how the securities are safeguarded (including the <br />settlement processes), and how often the securities are priced and <br />the program audited. <br />iv.A description of who may invest in the program, how often, what size <br />minimum and maximum deposit and withdrawal are allowed. <br />v.A schedule for receiving statements and portfolio listings. <br />vi.A description of how reserves, retained earnings, etc. are utilized by <br />the pool. <br />vii.A model of the fee schedule, and when and how it is assessed. <br />viii.A description of eligibility and/or acceptance of bond proceeds. <br />ix.The pool must contain only the types of investment allowed by <br />California Code. <br />Upon approval for participation in one or more additionalinvestment pools the <br />Treasury investment staff shall thereafter on a regular and continuingbasis <br />*´«¸ ΐǾ ΑΏΐ9- <br />C¨³¸ ®¥ 3 ­³  ȃ !­­´ « <br />0 ¦¤ 15 <br />3³ ³¤¬¤­³ ®¥ )­µ¤²³¬¤­³ 0®«¨¢¸*´­¤ ΒΏǾ ΑΏ20 <br /> <br />