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Finance and Management Services <br />www.santa-ana.org/finance <br />Item # 44 <br />City of Santa Ana <br />20 Civic Center Plaza, Santa Ana, CA 92701 <br /> Staff Report <br />June 6, 2023 <br />TOPIC: Annual Statement of Investment Policy <br />AGENDA TITLE <br />Adopt a Resolution Approving the City’s Annual Statement of Investment Policy 2023- <br />2024; Receive and File Annual Statement of Investment Policy 2023-2024. <br />RECOMMENDED ACTION <br />1. Adopt a Resolution approving the City’s 2023-2024 Investment Policy. <br />2. Receive and file the Annual Statement of Investment Policy 2023-2024. <br />DISCUSSION <br />In accordance with State law, the Finance and Management Services Agency annually <br />submits a resolution approving the City’s Investment Policy (Exhibit 1) and the Annual <br />Statement of Investment (Exhibit 2). <br />The investment policy outlines the following primary goals: <br />•To assure compliance with all Federal, State, and local laws governing the <br />investment of monies; <br />•To provide for the safety of principal; <br />•To provide for the maintenance of sufficient liquidity; and <br />•To provide an investment return within the parameters of the Statement of <br />Investment Policy and Investment Portfolio guidelines. <br />The investment policy applies to all financial assets of the City with the exception of <br />individual employee retirement contribution funds and deferred compensation, which <br />are specifically excluded. Bond Proceeds are restricted and are invested in compliance <br />with this investment policy following the specific requirements of their applicable bond <br />resolutions. Finance investment staff continuously evaluates the City’s policy with <br />regards to industry standards and best practices to determine if any newly adopted <br />state rules or regulations are required to be incorporated within the document or if any <br />industry enhancements are recommended. The current investment policy was <br />previously submitted to the California Municipal Treasurers Association (CMTA) for <br />review and to receive re-certification. CMTA re-certification was received May 31, 2022. <br />In FY 2023-24, the City of Santa Ana Investment Policy will be submitted for re- <br />certification from the Association of Public Treasurers of the United States & Canada