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CITY OF PLEASANTON <br /> <br /> INVESTMENT POLICIES AND GUIDELINES <br /> <br /> APRIL 1, 1986 <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 Code) <br /> and this policy. The City will maintain adequate cash <br /> availability and strive for maximum yield on invested idle funds <br /> while ensuring that principal invested is protected 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 City <br /> Council. <br /> <br /> I~vestment Criteria <br /> <br />· The criteria for selecting investments are, in order of priority: <br /> <br /> Safety of principal <br /> Liquidity <br /> Maximization of total return on overall portfolio <br /> <br /> In general, the City intends to manage its investments in such a <br /> way to ensure meeting this criteria. Investments will be made in <br /> a range of instruments to lessen risk by diversifying the City's <br /> portfolio. <br /> <br /> Policies and Objectives <br /> <br /> The basic premise underlying the City's investment policy is to <br /> ensure that money is always available when needed. Staff <br /> actively manages the City's portfolio in order to take advantage <br /> of changing economic conditions. Through daily projected cash <br /> flow analysis, the City will attempt to fully invest all idle <br /> 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 assets. <br /> To this extent, the City m~y, from time to time, make use of <br /> investment advisors and also may, from time to time, place <br /> certain City funds with investment managers. The performance of <br /> these managers w~ll be closely monitored, and their results will <br /> be carefully evaluated. <br /> <br /> <br />