Laserfiche WebLink
City of Pleasanton <br />INVESTMENT POLICY AND GUIDELINES <br />April 20, 1999 <br /> <br />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 govermng <br />the investment of public funds. <br /> <br />SCOPE: <br />This investment policy applies to all financial 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 />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 />Investmem 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 />OBJECTIVE: <br />The primary, objectives, in priority order, of the City's investment action shall be: <br /> <br />ao <br /> <br />Safety: 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 />