DATE: January 23, 2024
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Adopt a Resolution Accepting the Fiscal Year 2024 Statement of Investment Policy and Delegation of Authority
RECOMMENDATION
That the Council adopts a resolution (Attachment II) reaffirming the updated Fiscal Year 2024 Statement of Investment Policy and Delegation of Authority.
SUMMARY
There are no recent changes to California Government Code Section 53601 (Code) that govern the investment of public funds. Staff worked in conjunction with the City’s portfolio manager, PFM Asset Management, to review the City’s Statement of Investment Policy (Policy) and recommends no changes to the Policy (Attachment IV) at this time.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III PFM Asset Management Annual Policy Review Memo
Attachment IV FY 2024 Statement of Investment Policy