Resolution No. 2025-300
RESOLUTION NO. 2025-300
RESOLUTION OF THE MAYOR AND CITY COUNCIL OF
THE CITY OF SAN BERNARDINO, CALIFORNIA,
APPROVING THE UPDATED INVESTMENT POLICY FOR
FISCAL YEAR 2025/26.
WHEREAS, the City of San Bernardino has an existing investment policy consistent with state law and sound financial management; and
WHEREAS, the City's Investment Policy governs the cash, treasury, and investment management functions of the City and outlines investment objectives with a focus on safety, liquidity, and yield; and
WHEREAS, California Government Code Section 53646 requires the governing board of each local agency to annually review and re-approve its investment policy; and WHEREAS, the Director of Finance and Management Services has reviewed the current Investment Policy and has recommended updates to reflect recent changes in state law, including amendments to Government Code § 53601.8 pursuant to Chapter 239, Statutes of2024 (AB 2618); and
WHEREAS, such updates have been incorporated into the proposed Investment Policy, attached hereto as Exhibit "A," and are consistent with the most current Local Agency Investment Guidelines issued by the California Debt and Investment Advisory Commission; and WHEREAS, the updated Investment Policy has been presented to the Mayor and City Council for review and approval for Fiscal Year 2025/26.
BE IT RESOLVED BY THE MAYOR AND CITY COUNCIL OF THE CITY OF SAN BERNARDINO AS FOLLOWS:
SECTION 1. The above recitals are true and correct and are incorporated herein by this reference.
SECTION 2. The Mayor and City Council hereby adopt the "Investment Policy for FY 2025/26," attached hereto as Exhibit "A" and incorporated herein and made a part of this Resolution.
SECTION 5. The Mayor and City Council finds this Resolution is not subject to the California Environmental Quality Act (CEQA) in that the activity is covered by the general rule that CEQA applies only to projects which have the potential for causing a significant effect on the environment. Where it can be seen with certainty, as in this case, that there is no possibility that the activity in question may have a significant effect on the environment, the activity is not subject to CEQA.
Resolution 2025-300
June 4, 2025