55A - ADOPT RESO FOR ANNUAL STATEMENT AND RECIEVE AND FILE

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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 her/his designees (Investment Officials) 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 to the FMSA Financial Analyst. Managerial and supervisory responsibility for the investment of City funds may be held by either the Assistant Director of Finance (Assistant Director) or the Treasury and Customer Services Manager (Treasury Manager). Specifically, the Treasury Manager shall maintain direct responsibility over the treasury and investment functions of the FMSA Treasury and Customer Service Division (Treasury). The Assistant Director, holding assistant executive management responsibilities over FMSA, shall maintain an overall acting oversight capacity. 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 or within the FMSA Accounting or Administrative Services divisions as deemed appropriate by either 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 City of Santa - Annual page 6 July 1, 2020 - Statement of Investment Policy June 30, 2021 55A-12