RES 88129 - Laserfiche WebLink

CITY OF PLEASANTON INVESTMENT POLICIES AND GUIDELINES APRIL 5, 1988 Introduction Monies not required for immediate expenditure by the City of Pleasanton shall be invested in compliance with governing provisions of law (i.e., Section 53600 of the Government Code) and this policy. The City will maintain adequate cash availability and strive for maximum yield on invested idle funds while ensuring that principal invested is protected from loss. Delegation of Authority Pursuant to Section 53600 of the Government Code, the Finance Director has been delegated the investment authority by the City Council, as implemented by City Ordinance No. 279, adopted September 16, 1957. Investment Criteria The criteria for selecting investments are, in order of priority: · Safety of principal . Liquidity · Maximization of total return on overall portfolio In general, the City intends to manage its investments in such a way to ensure meeting this criteria. Investments will be made in a range of instruments to lessen risk by diversifying the City's portfolio. Policies and Objectives The basic premise underlying the City's investment policy is to ensure that money is always available when needed. Staff actively manages the City's portfolio in order to take advantage of changing economic conditions. Through daily projected cash flow analysis, the City will attempt to fully invest all idle cash. It shall also be the policy of the City to diversify its investment portfolio to ensure the maximum safety of City assets. To this extent, the City may, from time to time, make use of investment advisors and also may, from time to time, place certain City funds with investment managers. The performance of these managers will be closely monitored, and their results will be carefully evaluated.