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<br />Jermanis recommended that future staff reports include infoilllation on why a particular vendor <br />was selected including other information such as cost, scope of work, and overall rationale for <br />awarding the bid. <br /> <br />Jermanis will bring back to Council recommendations for increasing the City's purchasing <br />thresholds, as well as the proposal to combine all the different purchasing policies (e.g. travel <br />reimbursement, credit cards, etc.) into a single policy document. <br /> <br />3. Review of the City's Investment Policy <br />California Government Code Section 53600 et seq., and Section VII of the San Leandro <br />Investment Policy requires the City Council to annually review and approve the City's <br />Investment Policy. Chandler Asset Management, the City's Portfolio Manager, made a few <br />recommendations. Staff recommended implementing the following two changes: <br /> <br />. Change the threshold from "total portfolio purchases shall not exceed 15% of idle funds or <br />30% if the average maturity of commercial paper holdings does not exceed does not exceed <br />31 days" to "No more than 25% of the portfolio can be invested in commercial paper", and <br />. Change the 10% maximum to the 30% allowed by State Code for medium-term corporate <br />notes <br /> <br />The following other changes were recommended by Chandler but not recommended by staff: <br /> <br />. Grant more discretion to the Portfolio manager to buy and sell investment securities without <br />consultation with City Staff. Baloca would like staff to have greater oversight over the <br />City's portfolio as opposed to providing the portfolio manager with more discretion. <br />. Allow more focus on the return on investment by removing "yield" as an investment <br />objective. Baloca believes both yield and return on investment are effective performance <br />benchmarks. <br />. Apply more emphasis on performance over long-term economic cycles and less on short- <br />term performance. Baloca believes that both short-term and long-term strategies should <br />continue to be utilized for effective management of the City's overall investment portfolio. <br /> <br />4. Review of Fire Services Ad Hoc Committee Recommendations <br />For implementation through the Finance Committee, the following approved recommendations <br />(by the Fire Ad Hoc Committee and City Council) were mentioned: <br />. Review of the Alameda County Fire District (ACFD) Quarterly and Year End Financial <br />and Performance Reports <br /> <br />. Review of the ACFD' s Proposed Annual Budget Request and other pertinent budget issues <br />relating to City fire and emergency services. <br /> <br />. Review of ACFD's Independent Annual financial Audit Reports. <br /> <br />. Staff will conduct a cost of services analysis, which will include a study on ACFD fire and <br />emergency services provided to the City against comparable nearby jurisdictions, every <br />three to five years and will use the analysis as a guide for maintaining City containment on <br />the cost of fire and emergency services provided. <br /> <br />3 <br /> <br />GIHNCOMIvl\200f,07 MmulcslCITY _COlINC]L.F]NANCE.COMMnTEE 06 ]9-07 doc <br />