Laserfiche WebLink
City of Pleasanton <br /> INVESTMENT POLICY AND GUIDELINES <br /> April ;IS, 199S <br /> <br />1. POLICY: <br /> It is the policy of the City of Pleasanton to invest public funds in a manner which will <br /> provide the highest investment return with the maximum security while meeting the daily <br /> cash flow demands of the City and conforming to all state and local statutes governing <br /> the investment of public funds. <br /> <br />2. SCOPE: <br /> This investment policy applies to all f'mancial assets of the City. These funds are <br /> accounted for in the City's comprehensive Annual Financial Report and include: <br /> <br /> · General Fund <br /> · Enterprise Funds <br /> · Internal Service Funds <br /> · Capital Improvement Funds <br /> · Special Revenue Funds <br /> · Expendable Trust Funds <br /> · Non-Expend Trust and Agency Funds <br /> · Assessment District Agency Funds <br /> <br />3. PRUDENCE: <br /> Investments shall be made with judgment and care - under circumstances then prevailing <br /> - which persons of prudence, discretion and intelligence exercise in the management of <br /> their own affairs, not for speculation, but for investment, considering the probable safety <br /> of their capital as well as the probable income to be derived (i.e. the "prudent person" <br /> standard as defined by Civil Code #2261). <br /> <br /> Investment officers acting in accordance with written procedures and the investment <br /> policy and exercising due diligence shall be relieved of personal responsibility for an <br /> individual security's credit risk or market price changes, provided deviations from <br /> expectations are reported in a timely fashion and appropriate action is taken to control <br /> adverse developments. <br /> <br />4. OBJECTIVE: <br /> The primary objectives, in priority order, of the City's investment action shall be: <br /> <br /> a. Safe_ty: Safety of principal is the foremost objective of the investment program. <br /> Investments of the City shall be undertaken in a manner that seeks to ensure the <br /> preservation of capital in the overall portfolio. To attain this objective, <br /> diversification is required in order that potential losses on individual securities do <br /> not exceed the income generated from the remainder of the portfolio. <br /> <br /> <br />