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<br />CITY COUNCIL MEETING DATE: <br /> <br />~ <br />~ <br /> <br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />JUNE 20, 2005 <br />TITLE: <br /> <br />APPROVED <br /> <br />D As Recommended <br />D As Amended <br />D Ordinance on 1st Reading <br />D Ordinance on 2nd Reading <br />D Implementing Resolution <br />D Set Public Hearing For <br /> <br />ANNUAL STATEMENT OF INVESTMENT <br />POLICY <br /> <br />w <br /> <br />~ <br /> <br />CITY MANAGER <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />RECOMMENDED ACTION <br /> <br />1. Adopt a Resolution approving the City's Investment Policy. <br /> <br />2. Receive and file the Annual Statement of Investment Policy. <br /> <br />DISCUSSION <br /> <br />The Finance and Management Services Agency Executive Director annually <br />renders to the City Council a Statement of Investment Policy. The purpose <br />of the policy is to provide for the prudent investment of idle funds. The <br />criteria for selecting investments and the order of priority are safety, <br />liquidity, and yield. The investment policy applies to all financial <br />assets of the City. <br /> <br />FISCAL IMPACT <br /> <br />There is no fiscal impact associated with this action. <br /> <br />~~~~~,,~ \\.~. . <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br /> <br />19B-1 <br />