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Annual Statement of Investment Policy <br />May 19, 2020 <br />Page 2 <br />certification. During the course of the current fiscal year the City of Santa Ana received Investment <br />Policy Certifications from both the APTUS&C at the international North American level (Exhibit 3) <br />and the CMTA at the state level (Exhibit 4). Only a handful of California cities currently hold such <br />dual certification. <br />Both certification bodies recommend that local public agency investment policies be evaluated <br />annually, but that absent significant legislative changes or changes in industry standards, <br />substantive modifications and submittal for re -certification should be considered only every 3 to 5 <br />years. This year staff recommended limited changes that are generally of a non -substantial nature. <br />These changes which are listed below have been incorporated into the recommended City of Santa <br />Ana Investment Policy Statement for 2020-2021.These changes continue to reflect updated <br />certification organization requirements mirroring the policy consensus of the Association of Public <br />Treasurers of the United States & Canada and the California Municipal Treasurers Association. <br />The changes include, but are not limited to the following: <br />• Update of California Debt and Investment Advisory Commission (CDIAC) Guidelines for <br />Allowable Investment Instruments per State Government Code (As of January 1, 2020) <br />applicable to all Local Agencies. <br />• Update of corresponding California Investment Code Abstracts. <br />• Inclusion of FMSA Financial Analyst as an authorized Investment Official and delegation <br />of day-to-day responsibility for the investment of City funds to the Financial Analyst <br />under the management and supervision of the FMSA Treasury Manager and/or <br />Assistant Finance Director. <br />Expansion of Qualified Persons authorized to participate in investment support duties to <br />include Treasury staff as well as relevant staff drawn from FMSA Accounting and <br />Administrative Services divisions. <br />Expansion of Investment Staff to include Investment Officials and Qualified Persons. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal No. 4 - City Financial Stability, Objective No. 1 <br />(maintain a stable, efficient and transparent financial environment). <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />WH:AG <br />Exhibits: 1. Resolution <br />2. Annual Statement of Investment Policy <br />3. Association of Public Treasurers of the United States & Canada (APTUS&C) <br />Investment Policy Certification Letter <br />4. California Municipal Treasurers Association (CMTA) Investment Policy Certification <br />Letter & News Release <br />55A-2 <br />