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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JULY 16, 2007 <br />TITLE: <br />ANNUAL <br />OF INVESTMENT POLICY <br />I r <br />CI MANAGE <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />^ As Recommended <br />^ As Amended <br />^ Ordinance on 1~` Reading <br />^ Ordinance on Intl Reading <br />^ Implementing Resolution <br />^ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <br />RECOMMENDED ACTION <br />1. Adopt a Resolution approving the City's Investment Policy. <br />2. Receive and file the Annual Statement of Investment Policy. <br />DISCUSSION <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 />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />19E-1 <br />