Item# 07
Date: July 18, 2023
To: Mayor and City Council
From: Jennifer Styczynski, Finance Director
Jim Schaad, City Manager
Subject: Adopting the Annual Statement of Investment Policy Recommendation:
Pass a Motion to adopt Resolution 2023-XX adopting the Annual Statement of Investment Policy.
Rationale for Recommendation:
In accordance with Government Code Section 53646 (a)(2), the Treasurer or Chief Fiscal Officer may present a Statement of Investment Policy (Policy) each year for adoption. The purpose of the Policy is to enhance opportunities for a prudent and systematic investment process and formalize investmentrelated activities, which comprise of sound cash management, cash flow projections, cost effective banking and to enhance the economic status of the City while protecting its pooled cash resources.
Background:
The City of Marysville’s Investment Policy communicates the City Council’s investment objectives, delegation of authority, investment procedures and defines authorized and suitable investments for the City. The City Council last updated the Policy on July 5, 2022. As recommended by the State of California Government Code Section 53646(s)(2) and currently required under Policy Considerations – Investment Policy Review/Adoption, the City Treasurer has completed a review of the Policy for consideration and approval.
Discussion & Analysis:
The Treasurer has reviewed the Policy and made minor changes to the authorized permitted investment types to be in line with Government Code Section 53601 in regard to rating categories and formatting changes for consistency from the Investment Policy approved on July 5, 2022.
Fiscal Analysis:
None
Attachments:
1) Resolution No. 2023-XX
2) City of Marysville Statement of Investment Policy