Joint Special Council/BFPD
06/5/23 06:00 PM
City Treasurer
Heidy Riley
Policy
Doc ID: 5368
AGENDA ITEM
AGENDA MATTER:
FY 2023/2024 INVESTMENT POLICY FOR THE CITY OF BARSTOW
EXECUTIVE SUMMARY:
The City Council must annually concur and adopt the City of Barstow’s Investment Policy. Presentation of the FY 2023/2024 Investment Policy is presented for the City Council’s consideration and approval.
DISCUSSION:
The Investment Policy (Attachment A) outlines the purposes and objectives of the City of Barstow's investment of cash that is not being utilized for current obligations and is available for investment. Per California Government Code Section 53646(a) et seq., the Investment Policy for the City of Barstow is presented to the Council for concurrence and adoption. This policy must be adopted each year pursuant to Section 53607 of the Government Code. City Treasurer, Michael Lewis, has reviewed and approved the proposed Investment Policy for FY 2023/2024. There were no changes to the policy from last fiscal year.
FISCAL IMPACT:
None.
RECOMMENDED ACTION:
Staff recommends the City Council:
Adopt the Investment Policy and Resolution No.____-2023 of the City of Barstow for FY 2023/2024.