Laserfiche WebLink
THE CITY OF 4M <br /> .,.. ~/ <br /> <br />pC' city Council <br /> Staff Report <br /> <br /> April 19, 2005 <br /> Finance Department <br /> <br />SUBJECT: APPROVAL OF INVESTMENT POLICY AND GUIDELINES <br /> <br />STAFF RECOMMENDATION: <br /> <br /> Staff recommends that Council adopt the attached Investment Policy and <br /> Guidelines. <br /> <br />SUMMARY: Pursuant to Government Code §§53601 and 53635, the City's investment <br /> policy must he submitted to Council annually for adoption. <br /> <br />Honorable Mayor and Members of the City Council: <br /> <br />BACKGROUND <br /> <br />In accordance with the Government Code, the Director of Finance must annually render to City <br />Council a statement of investment policy. <br /> <br />DISCUSSION <br /> <br /> Staff is not recommending any changes to the current investment policy, but has clarified the <br /> section on reporting requirements to California Debt and Investment Advisory Commission <br /> (CDIAC). <br /> <br /> The City of Pleasanton has a sound investment policy, which is approved by Council annually. <br /> Monthly investment reports are submitted to Council within 30 days after month end. The <br /> Director of Finance certifies that the monthly investment repons are complete, that cash flow <br /> needs can be met for the following six months and that all investments are in accordance with <br /> the City's investment policy. The quarterly State Local Agency Investment Fund repons are <br /> made available for review upon request. <br /> <br /> SR:05:106 <br /> <br /> <br />