RESOLUTION NO. ________
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PACIFICA ACCEPTING
ANNUAL REVIEW OF THE INVESTMENT POLICY
WHEREAS, California Code Section 53646 (a) (2) requires the City Council annual review and approval of the Investment Policy; and
WHEREAS, the City’s current Investment Policy was adopted by the City Council in August 2017 and last reviewed in October 2018; and
WHEREAS, during the last audit cycle, the auditors noted that the revisions to the Investment Policy are needed to reflect the City’s operational practices and quarterly Treasurer’s reporting requirements and
WHEREAS, staff has reviewed the investment policy to ensure any necessary updates have been incorporated, and
WHEREAS, the change in the investment policy this year is redlined and updated per the recommendation from the auditor’s, and
NOW, THEREFORE, the City Council of the City of Pacifica does hereby approve the City of Pacifica’s Investment Policy with changes for FY 2024-25 as contained in Exhibit A attached hereto.
PASSED AND ADOPTED at a regular meeting of the City Council of the City of Pacifica, California, held on the 24th day of June 2024.
AYES, Councilmembers:
NOES, Councilmembers:
ABSENT, Councilmembers:
ABSTAIN, Councilmembers:
Sue Vaterlaus, Mayor
APPROVED AS TO FORM: ATTEST
Michelle Marchetta Kenyon Sarah Coffey
City Attorney City Clerk