CITY OF POMONA
COUNCIL REPORT
August 4, 2025
To: Honorable Mayor and Members of the City Council
From: Anita D. Scott, City Manager
Submitted By: Andrew Mowbray, Finance Director/City Treasurer SUBJECT: ADOPTION OF A RESOLUTION APPROVING THE FISCAL YEAR 2025-26 STATEMENT OF INVESTMENT POLICY FOR THE CITY OF POMONA RECOMMENDATION:
It is recommended that the City Council adopt the following resolution:
RESOLUTION NO. 2025-97 – A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF POMONA, CALIFORNIA, APPROVING THE 2025-26 STATEMENT OF INVESTMENT POLICY FOR THE INVESTMENT OF PUBLIC FUNDS BY THE CITY TREASURER EXECUTIVE SUMMARY:
The Fiscal Year 2025-26 Statement of Investment Policy (Exhibit A) provides guidelines and parameters for the investment of idle cash and is annually approved and adopted by the City Council per Resolution (Attachment No. 1), if approved, will serve to constitute that adoption.
SB1439/GOVERNMENT CODE §84308 APPLICABILITY:
☐ When this box is checked, it indicates the agenda item is subject to the Levine Act SB1439 requirements. Councilmembers are reminded to check their campaign contributions and determine whether they have received a campaign contribution of $500 or more that would require disclosure and/or recusal from discussing or acting on this agenda item. Campaign contributions of $500 or more made 1) by any person or entity who is identified in the agenda report as the applicant or proposer or 2) on behalf of the applicant or participant, including a parent, subsidiary or otherwise related business entity, or 3) by any person who has a financial interest in the agenda item requires a councilmember to comply with SB1439.
FISCAL IMPACT:
None.
PREVIOUS RELATED ACTION:
On September 9, 2024, City Council approved the Fiscal Year 2024-25 Statement of Investment Policy and reaffirmed the City Treasurer appointment.
DISCUSSION:
The City of Pomona conducts its investment activities in compliance with a Statement of Investment Policy, which is reviewed and adopted annually by the City Council. The policy has been formulated based upon the provisions of California Government Code Section 53601, et. seq., and the Statement of Investment Policy herein submitted is in compliance with that section of the California Government Code.
Per the August 7, 2023 Investment Policy Staff Report, City Council approved the City to utilize a California Asset Management Program (CAMP Pool). The City has begun investing in our Pool account with an initial deposit of $1,000,000 made on March 25, 2025.
As submitted for consideration, the City’s Statement of Investment Policy is in full compliance with applicable State Law. Upon approval, the Statement of Investment Policy will continue to furnish the City of Pomona with a source document, assuring compliance with current State legislation, while providing staff with a tool by which to safely implement future investment decisions on behalf of the City, the Housing Authority, and the Successor Agency.
The City consulted Chandler Asset Management (CAM) on modifying the City Investment Policy to allow different investment vehicles which would be advantageous in the current market climate. CAM recommended for no changes to be implemented to our current City Investment Policy until next fiscal year.
Based upon the information contained herein, it is recommended that the City Council adopt the attached resolution approving the City of Pomona’s Statement of Investment Policy.
Prepared by:
_____________________________
Jordan Solis
Senior Accountant
ATTACHMENT(S):
Attachment No. 1 – Resolution No. 2025-97, with Fiscal Year 2025-26 Statement of Investment Policy as EXHIBIT “A” Resolution – Adoption of the Statement of Investment Policy for Fiscal Year 2025-26