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Reso 2000-121
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Resolution
Document Date (6)
7/17/2000
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I. Policy Statement <br /> The City of San Leandro (City) invests public funds not required to meet current City obligations <br /> in compliance with the State of California (State) Government Code and this policy. The City's <br /> overall goal is to invest as close to 100% of these funds as possible to provide the maximum <br /> return and security while meeting the City's daily cash flow needs. As a rule, the City invests in <br /> securities having maturities no greater than five (5) years and holds its investment securities until <br /> their scheduled maturity dates or until they are called prior to their scheduled maturity dates by <br /> the issuing entity. <br /> II. Policy Scope <br /> This investment policy is applicable to all financial assets of the City of San Leandro; the <br /> Community Redevelopment Agency of the City of San Leandro; the San Leandro Housing <br /> Finance Corporation; the City of San Leandro Parking Authority; the San Leandro Public <br /> Financing Authority; and the San Leandro Economic Development Agency. These assets are <br /> accounted for in the City's Comprehensive Annual Financial Report in the following funds: <br /> e General Fund <br /> ♦ Special Revenue Funds <br /> e Capital Project Funds <br /> e Debt Service Funds <br /> e Enterprise Funds <br /> ♦ Internal Service Funds <br /> • Agency Funds <br /> This policy automatically applies to component units and funds subsequently established by the <br /> City of San Leandro. <br /> 111. Delegation of Investment Authority /Prudence <br /> California Government Code Section 53646 states that the ultimate responsibility for the prudent <br /> investment of public funds rests with the governing body, or City Council. Through City <br /> Council resolution No. 94 -143 the Council has delegated investment authority to the Finance <br /> Director and the Assistant Finance Director. The Finance Director and the Assistant Finance <br /> Director are trustees and fiduciaries who shall use the "prudent person" standard in managing <br /> the City's portfolio. They will exercise the same judgement and care which persons of prudence, <br /> discretion and intelligence exercise in the management of their own affairs. They will invest not <br /> for speculation, but to provide for the safety of principal, the assurance of liquidity and the <br /> generation of income. <br /> IV. Investment Objectives <br /> The City's cash management system is designed to monitor and forecast revenues and expenditures <br /> in order to meet the following objectives: <br /> Page 2 of 12 <br />
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