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Annual Statement of Investment Policy <br />June 18, 2024 <br />Page 2 <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 />The submission for re -certification should be considered only every 3 — 5 years. <br />The recommended changes this year are related to the May 7, 2024 approval of the <br />Investment Manager and Portfolio Services agreement. The proposed changes have <br />been limited and generally of a non -substantial nature, and will enable the <br />implementation of these investment services. These changes, which are listed below, <br />have been incorporated into the recommended City of Santa Ana Investment Policy <br />Statement for 2024-25. <br />These changes continue to reflect updated certification organization requirements <br />mirroring the policy consensus of the APTUS&C and CMTA. The changes include, but <br />are not limited to the following updates: <br />Updated Section 5 - The Executive Director may engage the services of external <br />investment management advisors to assist in the management of the City's <br />investment portfolio in a manner consistent with the City's objectives <br />• Updated Section 7 — Updated language on Authorized Brokers <br />Staff recommends that City Council adopt a Resolution approving the City's 2024-25 <br />Investment Policy. <br />ENVIRONMENTAL IMPACT <br />There is no environmental impact associated with this action. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />EXHIBIT(S) <br />1. Resolution <br />2. Annual Statement of Investment Policy <br />Submitted By: Kathryn Downs, Finance and Management Services Agency Executive <br />Director <br />Approved By: Alvaro Nunez, Acting City Manager <br />