2017-049 - City's Statement of Investment Policy

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7:12iyftiU4 4r' Government Code Section 53646 previously mandated that annual investment policies and quarterly reports be rendered to the legislative body (for the City of Santa Ana - the City Council). AB 2853 amended Government Code Section 53646 making these requirements permissive rather than mandatory. Although the Annual Investment Policy and Quarterly Reports to City Council are no longer required, we believe it to be both prudent and in keeping with the spirit of the City's Sunshine Policy that these documents continue to provided. The Executive Director for FMSA shall therefore continue to render to the City Council a statement of investment policy and a report to the City Council and City Manager containing detailed information on all securities, investments, and moneys of the City. The report will be submitted on at least a quarterly basis and provided to the Council within thirty (30) days following the end of the quarter. The report will contain the following information on the funds that are subject to this investment policy: 1) Type of investment (name of the issuer) 2) Date of maturity 3) Par and dollar amounts invested in each security 4) Weighted average maturity of the investments 5) Market value as of the date of report 6) Source of the market value information 7) Any funds, investments or programs, including loans, under the management of contracted parties In addition, a description of the City's compliance with the Statement of Investment Policy shall be provided along with a statement denoting the City's ability to meet its expenditure requirements for the next six months.