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<br />CITY COUNCIL MEETING DATE: <br /> <br /> <br />CLERK OF COUNCIL USE ONLY: <br /> <br />REQUEST FOR <br />COUNCIL ACTION <br /> <br />JULY 17, 2006 <br />TITLE: <br /> <br />Ma <br /> <br />APPROVED <br /> <br />D As Recommended <br />D As Amended <br />o Ordinance on 1 st Reading <br />D Ordinance on 2cd Reading <br />D Implementing Resolution <br />D Set Public Hearing For <br /> <br />ANNUAL STATEMENT OF INVESTMENT POLICY <br /> <br />CONTINUED TO <br /> <br />FILE NUMBER <br /> <br />CITY MANAGER <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 <br />purpose of the policy is to provide for the prudent investment of idle <br />funds. The criteria for selecting investments and the order of priority <br />are safety, liquidity, and yield. The investment policy applies to all <br />financial assets of the City. <br /> <br />FISCAL IMPACT <br /> <br />There is no fiscal impact associated with this action. <br /> <br />'\ t\r\. ~ to'l ~ A ., \ .""::\:-. _ , <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br /> <br />19C-1 <br />