DATE: January 21, 2025
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Adopt a Resolution Accepting the Fiscal Year 2025 Statement of Investment Policy and Delegation of Authority
RECOMMENDATION
That the Council adopts a resolution (Attachment II) reaffirming the updated Fiscal Year 2025 Statement of Investment Policy and Delegation of Authority.
SUMMARY
There are changes to California Government Code Section 53601 (Code) that went into effect in January 2024. To address these changes, staff recommends the City add the new Code language to Policy Section O: Investment Instruments, as shown in the attached marked-up Policy (Attachment IV).
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III PFM Asset Management Policy Review Memo
Attachment IV FY 2025 Statement of Investment Policy