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CITY OF PLEASANTON <br /> INVESTMENT POLICIES AND GUIDELINES <br /> <br /> APRIL 4, 1989 <br /> <br />Introduction <br /> <br />Monies not required for immediate expenditure by the City of <br />Pleasanton shall be invested in compliance with governing <br />provisions of law (i.e., Section 53600 of the Government <br />Code) and this policy. The City will maintain adequate cash <br />availability and strive for maximum yield on invested idle <br />funds while ensuring that principal invested is protected <br />from loss. <br /> <br />Delegation of Authority <br /> <br />Pursuant to Section 53600 of the Government Code, the Finance <br />Director has been delegated the investment authority by the <br />City Council, as implemented by City Ordinance No. 279, <br />adopted September 16, 1957. <br /> <br />Investment Criteria <br /> <br />The criteria for selecting investments are, in order of <br />priority: <br /> <br /> · Safety of principal <br /> · Liquidity <br /> · Maximization of total return on overall <br /> portfolio <br /> <br />In general, the City intends to manage its investments' in <br />such a way to ensure meeting this criteria. Investments will <br />be made in a range of instruments to lessen risk by <br />diversifying the City's portfolio. <br /> <br />Policies and Obiectives <br /> <br />The basic premise underlying the City's investment policy is <br />to ensure that money is always available when needed. Staff <br />actively manages the City's portfolio in order to take <br />advantage of changing economic conditions. Through daily <br />projected cash flow analysis, the City will attempt to fully <br />invest all idle cash. <br /> <br />It shall also be the policy of the City to diversify its <br />investment portfolio to ensure the maximum safety of City <br />assets. To this extent, the City may, from time to time, <br />make use of investment advisors and also may, from time to <br />time, place certain City funds with investment managers. The <br /> <br /> <br />