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<br /> REQUEST FOR <br /> <br /> COUNCIL ACTION ,~,~~L <br /> CITY COUNCIL MEETING DATE: CLERK OF COUNCIL USE ONLY: <br /> JUNE 21, 2010 <br /> TITLE: APPROVED <br /> ? As Recommended <br /> ANNUAL STATEMENT OF INVESTMENT POLICY ? As Amended <br /> ? Ordinance on 151 Reading <br /> ? Ordinance on 2nd Reading <br /> ? Implementing Resolution <br /> ? Set Public Hearing For <br /> A CONTINUED TO <br /> FILE NUMBER <br /> CITY MANAGER <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 renders to the City <br /> Council a Statement of Investment Policy. The purpose of the policy is to provide for the prudent <br /> investment of funds. The criteria for selecting investments and the order of priority are safety, <br /> liquidity, and yield. The investment policy applies to all 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 /> Exhibit 1 Resolution <br /> Exhibit 2 Investment Policy <br /> 55B-1 <br /> <br />