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CITY OF SANTA ANA <br />STATEMENT OF INVESTMENT POLICY <br />JULY 2002-2003 <br /> <br />INTRODUCTION: <br /> <br />This statement is intended to outline the policies for prudent <br />investment of idle City funds by providing guidelines for suitable <br />investments while maximizing the efficiency of the City's Cash <br />Management Program. <br /> <br />Under the direction of the Executive Director, Finance and Management <br />Services, the responsibility for the day to day investment of the <br />City's funds is delegated to the Treasury Manager only. The investment <br />policy applies to all financial assets of the city and are pooled in an <br />actively managed portfolio. The investment pool or portfolio will be <br />referred to as the "Fund" throughout this document. Bond proceeds shall <br />be invested in accordance with requirements and restrictions Outlined <br />in the bond documents. Bond proceeds are not considered pa~t of the <br />Fund nor subject to this Investment Policy. <br /> <br />The City!s Cash Management Program is designed to accurately monitor <br />and forecast expenditures and revenues, thus enabling the investment of <br />funds to the fullest extent possible. Maturities are matched as close <br />as possible to coincide with cash requirements. <br /> <br />The investment policies and practices of the City of Santa Aha are <br />based upon Federal, State and Local law and prudent money management. <br />The primary goals of these policies are: <br /> <br />1. To assure compliance with all Federal, State and Local <br /> laws governing the investment of monies. <br /> <br />2. To provide for the safety of principal and sufficient <br /> liquidity. <br /> <br />3. To provide an investment return within the parameters of this <br /> Statement of Investment Policy and the Investment Portfolio <br /> Guidelines. <br /> <br />Officers and employees involved in the investment process shall <br />refrain from personal business activity that could conflict with the <br />proper execution and management of the investment program, or that <br />could impair their ability to make impartial decisions. Employees <br />and investment officials shall disclose any material interests in <br />financial institutions with which they conduct business. They shall <br />further disclose any personal financial/investment positions that <br />could be related to the performance of the investment portfolio. <br />Employees and officers shall refrain from undertaking personal <br />investment transactions with the same individual with whom business <br />is conducted on behalf of their entity. · <br /> <br />Resolution No. 2002-057 <br /> Page 3 of 10 <br /> <br /> <br />