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REQUEST FOR <br />COUNCIL ACTION <br />CITY COUNCIL MEETING DATE: <br />JUNE 16, 2015 <br />TITLE: <br />ANNUAL STATEMENT OF INVESTMENT <br />POLICY <br />(STRATEGIC PLAN NO. 4, 1) <br />CITY MA WAGER <br />RECOMMENDED ACTION <br />CLERK OF COUNCIL USE ONLY: <br />❑ As Recommended <br />❑ As Amended <br />❑ Ordinance on 18' Reading <br />❑ Ordinance on 2nd Reading <br />❑ Implementing Resolution <br />❑ Set Public Hearing For <br />CONTINUED TO <br />FILE NUMBER <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 />City Staff annually evaluates its Investment Policy ( "Policy') to determine compliance with <br />applicable Federal and State regulations. In order to assess the City's Investment Policy ( "Policy ") <br />is in alignment with best practices, the Policy was submitted to The Association of Public <br />Treasurers of United States of America & Canada ( "Association ") in March 2014. On June 17, <br />2014, the City was awarded a Certificate of Excellence Award from the Association for its success <br />in developing a comprehensive written investment policy in accordance with industry best <br />practices. The provided Policy meets the criteria set forth by the Association's Investment Policy <br />Certificate Committee. Additionally, the Investment Policy Certification Committee recommends <br />recertification of City's policy annually if a material change is made within the document or every <br />three years. <br />The Finance and Management Services Agency annually is required to submit to the City Council <br />a resolution approving the Policy and the Statement of Investment in accordance with State Law. <br />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 Policy <br />and Investment Portfolio guidelines. <br />5513-1 <br />