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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 17, 2013 <br />TITLE: <br />ANNUAL STATEMENT OF <br />INVESTMENT POLICY <br />C AGER <br />CLERK OF COUNCIL USE ONLY: <br />APPROVED <br />? As Recommended <br />? As Amended <br />? Ordinance on 151 Reading <br />? Ordinance on 2nd 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 annually is required to submit to the City Council <br />a resolution approving the City's Investment Policy and the Statement of Investment in accordance <br />with State Law. The policy outlines the City's policies and practices. The primary goals are: <br />1) To assure compliance with all Federal, State, and Local laws governing the investment of <br />monies. <br />2) To provide the safety of principal and sufficient liquidity. <br />3) To provide an investment return within the parameters of the Statement of Investment <br />Policy. <br />The investment policy applies to all financial assets of the City, with the exception of Bond <br />Proceeds. A review of the investment policy is scheduled for the coming fiscal year and will <br />be reviewed in conjunction with the Finance, Economic Development & Technology Council <br />Committee. <br />FISCAL IMPACT <br />There is no fiscal impact associated with this action. <br />I NCI IXNJN-?' i ") 1? :? ? - <br />Francisco Gutierrez <br />Executive Director <br />Finance & Management Services Agency <br />Exhibit 1 Resolution <br />Exhibit 2 Investment Policy <br />55A-1