Report to City Council
ID: 26-0204 Page 1
TO: Mayor and City Council
FROM: Felicia London, Chief Financial Officer/City Treasurer
AGENDA DATE: May 19, 2026
TITLE: ANNUAL REVIEW OF THE DEBT MANAGEMENT
POLICY (REPORT OF: FINANCIAL AND
MANAGEMENT SERVICES) ( DISTRICT: NOT
APPLICABLE)
TITLE SUMMARY: Annual Review of the Debt Management Policy
DISTRICT: Not Applicable
Recommendation(s)
That the City Council:
1. Review and approve the Debt Management Policy.
SUMMARY
This report recommends the review and approval of the Debt Management Policy. On September 12, 2016 Governor Brown signed Senate Bill 1029, Hertzberg, amending the Government Code to require issuers of public debt in California to have an adopted debt management policy. The City of Moreno Valley recognizes that maintaining a Debt Policy is a best practice and first adopted one in 2006. Each year, staff reviews the policy against industry standards. As part of this annual review, only minor revisions are being proposed.
DISCUSSION
Debt management policies are considered a “best practice” by many profess ional municipal finance organizations, including the Government Finance Officers Association, the California Society of Municipal Finance Officers , and the Association of Public
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Treasurers of the United States and Canada. Issuers of public debt within Cali fornia are now required to have an adopted Debt Policy to participate in the financial markets.
The Debt Management Policy was originally developed in 2006 and revised in 2014, 2017, 2019, 2020, 2021, 2023, and 2024. In recent years, additional requirements have been placed on the issuers of municipal securities based on the input from oversight agencies such as the Securities & Exchange Commission (SEC), the Municipal Securities Rulemaking Board (MSRB), the California Debt and Investment Advisory Commissi on, rating agencies, and investors.
Only minor revisions are being recommended to the current policy at this time. If any significant changes occur in the regulatory environment, the policy will be updated accordingly and brought back to the City Council for review.
These revisions were discussed and approved by the Finance Subcommittee on April 28, 2026.
ALTERNATIVES
1. Approve Debt Management Policy. This alternative is recommended so that the City’s policies and practices conform to the current debt management standards as established by municipal oversight agencies.
2. Do not approve Debt Management Policy and provide staff with additional direction. The alternative is not recommended since it will result in the delay of the review and adoption of the policy and could result in the City being out of compliance with state law.
FISCAL IMPACT
No current fiscal impact.
NOTIFICATION
Public Notice
PREPARATION OF STAFF REPORT
Prepared By: Department Head Approval:
Alan Garcia Felicia London Financial Operations Division Manager Chief Financial Officer/City Treasurer
Concurred By:
Patty Yhuit
Deputy Finance Director (Operations)
CITY COUNCIL GOALS
None
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CITY COUNCIL STRATEGIC PRIORITIES
1. Economic Development
2. Public Safety
3. Library
4. Infrastructure
5. Beautification, Community Engagement, and Quality of Life
6. Youth Programs
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Report Approval Details
Document Title: STAFFREPORT_FMS_ANNUAL REVIEW OF THE DEBT MANAGEMENT POLICY 5.19.26.docx
Attachments: - 3.10 Debt Management Policy - 5.19.26 - Final.pdf - 3.10 Debt Management Policy - 5.19.26 - Revised.pdf
Final Approval Date: May 13, 2026
This report and all of its attachments were approved and signed as outlined below:
No Signature found
Alan Garcia
Natalia Medina
Felicia London, MPA
Launa Jimenez
Brian Mohan
Patty Rodriguez