Report to City Council
ID: 26-0205 Page 1
TO: Mayor and City Council
FROM: Felicia London, Chief Financial Officer/City Treasurer
AGENDA DATE: May 19, 2026
TITLE: ANNUAL STATEMENT OF INVESTMENT POLICY
(REPORT OF: FINANCIAL AND MANAGEMENT
SERVICES) (DISTRICT: NOT APPLICABLE)
TITLE SUMMARY: Annual Statement Of Investment Policy
DISTRICT: Not Applicable
Recommendation(s)
That the City Council:
1. Adopt the Annual Statement of Investment Policy.
SUMMARY
Staff recommend s that the City Council review and adopt the Annual Statement of Investment Policy, which includes only minor proposed updates.
California Government Code Sections 53600 and 53646, respectively, delineate the types of investments allowed, define various restrictions governing these investments , and suggest a periodic review of the investment report and investment policy by the governing body of the local agency. The City’s Investment Policy has established a review process whereby the Council reviews and adopts the policy annually. The policy identifies allowable investments, the reporting proc ess related to the investments, safekeeping measures in maintaining assets , and the roles of staff in the management of the investment program.
DISCUSSION
ID: 26-0205 Page 2
The City’s Investment Policy calls for the policy to be reviewed and adopted annually by the City Council. The policy was last revised in May 2025. The policy in its revised form has incorporated all the most recent changes made to the California Government Code, as well as the best practices which have been identified by the California Debt and Investment Advisory Commission (CDIAC). The policy was awarded an Investment Policy Certification by the California Municipal Treasurer’s Association (CMTA) in August 2024. Upon approval, the revised policy will be submitted for CMTA Certification.
Following a comprehensive review by staff and our investment management firm, Chandler Asset Management, Inc., only minor revisions were deemed necessary to ensure continued alignment with recognized industry best practices.
These revisions were discussed and approved by the Finance Subcommittee on April 28, 2026.
ALTERNATIVES
1. Adopt Annual Statement of Investment Policy. Staff recommends this alternative since this will allow for the timely review and adoption of the policy for the coming fiscal year.
2. Do not adopt Annual Statement of Investment Policy and provide staff with additional direction. Staff does not recommend this alternative since it will not allow for a timely review and adoption process prior to the start of the new fiscal year.
FISCAL IMPACT
No fiscal impact
NOTIFICATION
Posting of Agenda.
PREPARATION OF STAFF REPORT
Prepared By: Department Head Approval:
Alan Garcia Felica London Financial Operations Division Manager Chief Financial Officer/City Treasurer
Concurred By:
Patty Yhuit
Deputy Finance Director (Operations)
CITY COUNCIL GOALS
None
ID: 26-0205 Page 3
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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ID: 26-0205 Page 5
Report Approval Details
Document Title: STAFFREPORT_FMS_ANNUAL STATEMENT OF
INVESTMENT POLICY 5.19.26.docx
Attachments: - 3.03 Investment Policy - 5.19.26 - Revised.pdf - 3.03 Investment Policy - 5.19.26 - Final.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