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55A - RESO - ANNUAL STATEMENT OF INVESTMENT
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55A - RESO - ANNUAL STATEMENT OF INVESTMENT
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Last modified
1/3/2012 3:43:51 PM
Creation date
6/14/2011 4:23:27 PM
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Template:
City Clerk
Doc Type
Agenda Packet
Agency
Finance & Management Services
Item #
55A
Date
6/20/2011
Destruction Year
2016
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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 20, 2011 <br />TITLE: <br />ANNUAL STATEMENT OF INVESTMENT <br />POLICY <br />CITY MANAGER <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 1" Reading <br />? Ordinance on 2Id 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 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 idle 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 />55A-1
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