CITY OF SALINAS
FINANCE COMMITTEE STAFF REPORT
______________________________________________________________________________ Date: oCTOBER 4, 2022
Department: Finance
From: Mark Roberts, Director of Finance
Title: Annual Investment Policy
RECOMMENDATION:
Staff requests the Finance Committee recommend the City Council adopt a resolution adopting the Annual Investment Policy for the City of Salinas for Fiscal Year 2023 as attached.
EXECUTIVE SUMMARY:
City of Salinas Annual Investment Policy Section 18 requires the City’s investment policy be reviewed and adopted at least annually. Following review by staff and consultation with the City’s investment advisor, Chandler Asset Management, staff recommends amendment of the Annual Investment Policy as reflected in the attachments to this staff report.
CEQA CONSIDERATION:
Not a Project. The City of Salinas has determined the proposed action is not a project as defined by the California Environmental Quality Act (CEQA) (CEQA Guidelines Section 15378).
STRATEGIC PLAN INITIATIVE:
Given the importance of establishing and maintaining strong internal controls, adoption of the recommended resolution achieves the Council 2022-2025 Strategic Goal of Effective Government.
FISCAL AND SUSTAINABILITY IMPACT:
There is no fiscal impact associated with approval of the recommended action.
ATTACHMENTS:
Annual Investment Policy – Original
Annual Investment Policy – Draft
Annual Investment Policy – Final