REPORT TO CITY COUNCIL
To:Honorable Mayor and Members of the City Council
From:Jason Simpson, City Manager
Prepared by:Shannon Buckley, Assistant City Manager
Date:June 24, 2025
Subject: Annual Adoption of Investment Policy
Recommendation
Approve the 2025 Investment Policy.
Discussion
Under Government Code Section 53646(a), the City Council should review and adopt the City’s Investment Policy annually.
The City’s investment advisor, PFM Asset Management LLC (PFM), has reviewed the Investment Policy and provided recommendations. These recommendations have been incorporated into this year’s investment policy. A copy of the memorandum from PFM, noting their evaluation and recommendations, is included in this report.
The City Treasurer has reviewed the Investment Policy presented and has no objection. The policy conforms well to what is allowed by the California Government Code. The policy has all required elements outlined in the Model Investment Policy of the Municipal Treasurers’ Association of the United States & Canada.
Fiscal Impact
No fiscal impact.
2025 Investment Policy
Attachments
Attachment 1- 2025 Investment Policy
Attachment 2- 2025 Investment Policy PFM Recommendations Administrative Services