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agreements, daily cash flow review, basis for awarding bids, portfolio <br /> inventory, and reporting. The procedures document is intended to <br /> provide guidance for staff and to ensure continuity in the event of an <br /> interruption to the services of the Treasury and Customer Services <br /> Manager and/or Assistant Finance Director. <br /> 4.0 OBJECTIVES <br /> The primary objectives, in priority order, for the City of Santa Ana's <br /> investment activities shall be Safety, Liquidity, and Yield: <br /> 4.1 Safety of Principal <br /> Safety of principal is the foremost objective of the City of Santa Ana; <br /> care must be taken to ensure the preservation of capital and the <br /> protection of principal. Each investment transaction shall be <br /> undertaken to ensure the preservation of capital in the overall <br /> portfolio. The objective is to mitigate credit and interest rate risk <br /> by following the guidelines below. <br /> A. Credit Risk <br /> Credit Risk is the risk of loss arising from the failure of <br /> the security's issuer or backer to redeem the <br /> outstanding debt on the stated maturity date. Credit risk <br /> also encompasses the overall market perception of the <br /> issuer's financial strength and capacity. The City of <br /> Santa Ana will minimize credit risk by: <br /> i. Limiting investments to authorized investments <br /> as set forth in Section 8 of this investment policy; <br /> ii. Pre-qualifying the financial institutions, broker- <br /> dealers, intermediaries, and advisors with which <br /> the City will do business; <br /> iii. Diversifying the investment portfolio so that <br /> potential losses on individual securities will be <br /> minimized. <br /> iv. Holding a minimum percentage of the total <br /> portfolio in highly marketable short-term <br /> treasuries, checking with interest, government <br /> pooled account, or a combination of all three. <br /> The minimum percentage shall be set monthly by <br /> the FMSA Investment Advisory Committee based <br /> on a rolling twenty-four-month analysis of the <br /> City's minimum cash position requirements <br /> adjusted for any exceptional anticipated cash <br /> City of Santa-Annual Page 3 July 1. 2026 - <br /> Statement of Investment Policy June 30,2027 <br />