File #: 19-001    Version: 1 Name: Discussion on Investment Policy
Type: Staff Report Status: Filed
In control: Finance Committee
Meeting Date: 1/8/2019 Final action:
Enactment date: Enactment #:
Title: Discussion of Investment Policy
Sponsors: David Baum Finance Director
Attachments: 1. 2018 Investment Policy approved 6-18-18, 2. 20181231CAM00460

Title

Discussion of Investment Policy

 

Staffreport

SUMMARY

 

On November 19, 2018, Councilmember Hernandez requested a review of the City’s Investment Policy. By consensus vote, the City Council agreed to refer this item to the City’s Finance Committee. Accordingly, attached is the City’s Investment Policy relating to treasury investments, which now total in excess of $100 million. California Government Code Section 53600 et seq requires the City Council to annually review and approve the Investment Policy. This policy was last adopted on June 18, 2018.

 

For reference, attached is the City’s investment policy and an account statement from Chandler Investments, for the period ending 12-31-2018.

 

PREPARED BY:  David Baum, Director, Finance Department