DATE: June 2, 2026
TO: Mayor and City Council
FROM: Director of Finance
SUBJECT
Title
Adopt a Resolution Adopting the Fiscal Year 2026-27 Statement of Investment Policy and Delegating Authority to Make Investments to the Director of Finance
End
RECOMMENDATION
Recommendation
That the City Council adopts a resolution (Attachment II) adopting the Fiscal Year 2026-27 Statement of Investment Policy and delegating authority to make investments to the Director of Finance.
End
SUMMARY
Every year, the City’s investment manager, PFM Asset Management (PFM) reviews the City’s Statement of Investment Policy (Policy) for conformance with any updated laws and best practices. The Policy requires that City Council approve any recommended changes.
There are minor changes to California Government Code Section 53601 (Code) that went into effect January 1, 2026. To address these changes, staff recommends the City update the Statement of Investment Policy. A summary of changes is outlined in the Memorandum from PFM Asset Management to City of Hayward (Attachment III). Attachment IV reflects the proposed changes using tracked changes for visibility.
In addition, this action delegates authority to the Finance Director or designee to invest and reinvest City funds in accordance with the Policy and applicable law.
ATTACHMENTS
Attachment I Staff Report
Attachment II Resolution
Attachment III PFM Asset Management Policy Review Memo
Attachment IV Fiscal Year 2026-27 Statement of Investment Policy