Laserfiche WebLink
San Leandro Investment Policy Statement <br />IV. Investment Objectives <br />Page 3 of 14 <br />Safety: Safety of principal is the foremost objective of the investment program. <br />Investments shall be undertaken in a manner that seeks to ensure the <br />preservation of capital in the overall portfolio. The objective will be to mitigate <br />credit risk and interest rate risk. <br />2 Liquidity: The investment portfolio shall remain sufficiently liquid to meet all <br />operating requirements that may be reasonably anticipated. <br />3. Yield: The investment portfolio shall be designed with the objective of attaining <br />a market rate of return throughout budgetary and economic cycles, taking into <br />account the investment risk constraints for safety and liquidity needs. Return <br />on investment is of least importance compared to the safety and liquidity of the <br />City's assets as described above. <br />4. Other.- Investments are to be made that will bear in mind the responsibility of <br />city government to its citizens. Alternative investments which enhance the <br />quality of life will be given full consideration. <br />V. Investment Criteria <br />The City invests its funds in accordance with the following criteria: <br />Insure that funds not needed for current City obligations are <br />fully invested at all times. <br />2. Insure that yield -restricted funds are monitored to ensure <br />compliance with federal arbitrage rebate requirements. <br />3. Insure that the specific requirements outlined in the Bond <br />Indentures of Trust are maintained. <br />VI. Ethics and Conflicts of Interest <br />Officers and employees involved in the investment process will refrain from personal <br />business activity that would conflict with the proper execution of the investment program, <br />or would impair their ability to make impartial investment decisions. Employees and <br />investment officials will disclose to the Finance Director any material interests in financial <br />institutions that conduct business with the City of San Leandro. Furthermore, they will <br />disclose any personal financial/investment positions that could be related to the financial <br />performance of the City, particularly at the time of investment purchases and sales. <br />Investment officers and employees who fail to comply with this disclosure requirement <br />will be subject to administrative action. <br />